DoorDash It will begin offering stablecoin payments to delivery workers and merchants.
It is part of a series of partnerships Announce on Tuesday (April 21) through payments-focused blockchain technology pacewhich companies including DoorDash said, Coastal Banka fintech focused on Latin America ARQ request And father Tembo tape They are either running or preparing to run parts of their payment processes Stablecoin bars.
In the case of DoorDash, Tempo wrote on its site Blog The partnership helps the delivery app navigate the “three-sided market” that includes consumers, merchants and delivery workers. Each of these parties may have different payment timing, currency, and compliance requirements.
“Now multiply that across 40+ countries. Each market has different payment paths, FX dynamics, settlement timelines, and regulatory requirements,” the blog post said. “The payments flow that works in Atlanta does not apply in Helsinki. The logistics of getting paid from a Dasher in one country are not the same as the logistics in another country.”
According to Tempo, the partnership is focusing on three areas where it says stablecoins improve over traditional payment paths: payment speed, Cross-border payment costs Allowing transactions to be completed with less friction and fewer steps.
“If we can get merchants and dashers paid faster, and do it in a way that’s affordable for them, that’s a no-brainer for the entire ecosystem,” he said. Andy Fangco-founder of DoorDash.
Advertisement: Scroll to continue
It was announced last year by Stripe and a cryptocurrency venture company modelTempo is designed to be “Blockchain-first payments.”
Matt HuangThe co-founder, managing partner at Paradigm and head of the Tempo project, argued at the time that large parts of cryptocurrency infrastructure were dedicated to trading and that Tempo would instead be optimized for payments.
“We are excited to enhance the transactability of cryptocurrencies Real-world use cases “Including global payments, payroll, remittances, token deposits for 24/7 settlement, integrated financial accounts, micro-transactions, agent payments, and more,” Huang said.
Meanwhile, research by PYMNTS Intelligence shows an increase in the use of stablecoins for business-to-business payments 88% of companies Who receive stablecoin payments and instantly convert them into US dollars. This highlights the idea that these coins are viewed as mints rather than stores of value, PYMNTS wrote earlier this month.
“Companies with low operational uncertainty are more likely to increase their interest in stablecoins,” this report added.
“Companies tend to explore New payment methods When their core business feels stable. This dynamic points the way forward. As macro conditions stabilize and internal systems improve, experimentation could move into wider dissemination.
