Tempo, the $5 billion blockchain backed by Stripe and venture firm Paradigm, landed DoorDash (NASDAQ:DASH) as a partner to offer stablecoin payments for merchants and delivery workers globally, marking a major push into real-world payment flows.

The DoorDash Integration

DoorDash plans to offer stablecoin payments for merchants and delivery workers across more than 40 countries. 

The feature will allow faster and cheaper payouts by DoorDash, which processes payments between consumers, merchants, and delivery workers globally.

The partnership represents one of the largest real-world applications of stablecoin payments to date, with DoorDash handling billions in payment volume annually across its platform.

Tempo’s $5 Billion Valuation

Tempo, led by CEO Matt Huang, raised $500 million at a $5 billion valuation last year. 

The blockchain is competing for stablecoin payment volumes against Circle’s Arc blockchain and other payment-focused networks.

Stripe, Coastal Community Bank, and DoorDash are among the initial companies using Tempo for real-world stablecoin payments. 

Tempo will serve as Stripe’s core blockchain for global payments.

Coastal Community Bank, a Washington-based bank that partners with fintech firms, will use stablecoins on Tempo for cross-border settlement.

The Stablecoin Advisory Launch

Tempo launched a “stablecoin advisory” to help businesses and financial institutions adopt stablecoins. 

The advisory operation offers support in identifying use cases and provides forward-deployed engineers who can work within clients to integrate stablecoins.

Visa (NYSE:V), OnePay, Felix, Fifth Third Bank, and Howard Hughes Holdings are all bringing payments operations onto Tempo. 

The financial services platform ARQ is building stablecoin infrastructure with Tempo.

The advisory will comprise a handful of dedicated staff within the company but will rely on broader team expertise, a person familiar with Tempo’s internal operations told Fortune.

The Mainstream Push

Circle’s (NYSE:CRCL) successful initial public offering and renewed interest in stablecoins from Meta (NASDAQ:META), X, and Google (NASDAQ:GOOGL) underscore how bullish the tech and business world has become on blockchain payments.

With backing from payments giant Stripe, Tempo is attempting to become a central player in making stablecoins mainstream. 

The company previously worked with OpenAI, Shopify, and Visa as design partners for the blockchain itself.

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