DoorDash is bringing stablecoin payments to masses with Stripe-backed blockchain

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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 and a group of fintechs are moving stablecoins into their live payment flows with Stripe-led blockchain Tempo, the latest sign that blockchain-based money is entering mainstream financial infrastructure. Payments-focused blockchain Tempo, developed by Stripe and venture firm Paradigm, said Tuesday in a blog post that companies including DoorDash, Stripe, Coastal Bank and Latin American fintech ARQ are now running or preparing to run parts of their payment operations on stablecoin rails. 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. $300 billion asset The news comes as stablecoins and blockchain rails are increasingly becoming part of global money flows. Stablecoins are a $300 billion crypto asset class with prices tied to fiat currencies and promise a cheaper, faster alternative to traditional banking rails for cross-border transactions. Stripe, a global payments firm that processes nearly $2 trillion in annual payments, has made blockchain and stablecoins central to its ambitions. The company acquired stablecoin infrastructure firm Bridge for $1.1 billion in 2024, then bought crypto wallet provider Privy. It also teamed up with crypto investment firm Paradigm to develop a payments-focused blockchain dubbed Tempo, which went live last month with infrastructure partners like Mastercard, UBS, Klarna and Visa. The chain was designed specifically for payment workloads, with features like sub-second settlement, fixed fees and private transaction channels aimed at enterprise users. That contrasts with general-purpose blockchains, which often face congestion and unpredictable costs. To help companies adopt the technology, Tempo said Tuesday it is also launching a Stablecoin Advisory service to offer hands-on support for firms looking to move payment flows onchain. Read more: Stripe doubles down on blockchain and stablecoins, aiming to become 'AWS for money' More For You Marisks, a maritime risk company, alerted ships stranded by the Hormuz blockade to scammers posing as Iranian authorities asking for bitcoin or USDT. What to know: - Shipowners are receiving fraudulent messages from scammers posing as Iranian authorities and demanding bitcoin or USDT payments for safe passage through the Strait of Hormuz, according to Greek risk management firm Marisks. - Marisks said it believes at least one vessel fell victim to the scam and was fired on while...

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