DoorDash is bringing stablecoin payments to masses with Stripe-backed blockchain
The delivery service is working with the Stripe-led blockchain firm Tempo to bring stablecoin payouts to its global marketplace, replacing fragmented regional rails.
What to know:
- DoorDash is working with Stripe-backed Tempo blockchain to bring stablecoin-powered payouts to its global marketplace.
- Stripe, Coastal Bank and Latin American fintech ARQ are also beginning to run parts of their payment operations on stablecoin rails with Tempo.
- Stripe, a payments giant that processes nearly $2 trillion in payment flows annually, is increasingly betting on stablecoins and blockchain becoming a core layer for global money movement.
DoorDash, which operates in more than 40 countries and generated nearly $75 billion in sales for local merchants last year, is working with Tempo to roll out stablecoin-powered payouts for merchants, starting with cross-border flows where settlement speed and cost matter most.
“There’s real promise with stablecoins transforming financial infrastructure,” DoorDash co-founder Andy Fang said in a statement.
A Paradigm spokesperson declined to disclose the exact timing of when stablecoin payments will go live at DoorDash.
Stripe, meanwhile, is using Tempo as a core layer for its money movement products, allowing businesses to send, receive and hold stablecoins alongside traditional currencies. The goal is to make global payments “fast, cheap and borderless,” said Neetika Bansal, Stripe’s head of Connect and money management.
