Uber, which holds a remarkable position in the cab services industry, is now planning to use stablecoins to make sending and moving around the globe easier and cheaper.
At a tech event in San Francisco on June 02, 2025, Uber’s boss said the company is still working on its move and is dedicated to understanding how stablecoin works.
Dara Khosrowshahi argued that stablecoins are like digital dollars; yet Uber is regular money, such as U.S dollars, and does not fluctuate much in value because it is backed by real cash or safe investment.
As per Dara’s opinion, stablecoins could help the company to save money when paying individuals or transferring cash between nations.
He said stablecoins are quite different from Bitcoin, which some people talk about, as stablecoins have stable value, which could help global companies such as Uber and others.
The stablecoin market is ballooning day by day
Over the past few years, the popularity of stablecoins has gained massive attention, and mimicking the concept of these blockchain-based currencies, several nations have launched their CBDC (Central Bank Digital Currency).
It is noteworthy that in 2019 the stablecoin market was $5 billion, but from 2020 to 2022 stablecoins outperformed, and at one time the cap was nearly $160 billion. In 2023, the market showed a slight recovery, reaching $165.93 billion, and when writing, it was more than $250 billion.
In the past year, the transfer volume of all stablecoins has reached $27.6 trillion, surpassing the collective volume of Visa and MasterCard.
When writing, USDT is one of the largest and most prominent stablecoins in terms of trading volume and market cap, followed by USDC, Ethena, DAI, World Liberty Financial USD, and First Digital USD.
How big is Uber?
As per data till Q3, 2024, the active monthly user base of Uber was 161 million globally, which was 142 million in the same quarter in 2023. It is noteworthy that Uber drivers have completed 11.27 billion trips in 2024, which is 19.3% greater than the trips in 2023.
In 2024, Uber generated $43.978 billion in revenue, which grew by 17.96% compared to the previous year; in Q1 2025, the company reported a revenue of $11.533 billion, which is up by 13.84% YoY.
Uber Technologies Inc., registered on the NYSE, is trading at $84.67 with a surge of 1.46%. In a year-to-date time frame, the price is up by 34.09%.
The company generates the majority of its revenue from the United States, followed by the United Kingdom, Asia Pacific, Europe, the Middle East, Africa, Latin America, and Canada.
57.04% of Uber’s revenue is generated from the mobility sector, followed by 31.27% from delivery services and roughly 11.70% from freight.
