Uber will explore the use of stablecoins for payments, says CEO

Uber, the giant in app-based transportation, is exploring the potential use of stablecoins as a means of payment, according to statements by the company's CEO, Dara Khosrowshahi, during a technology event by Bloomberg on Thursday (5) in San Francisco, California (USA).

'I think stablecoin is one of the most interesting instances in the crypto sector, with a practical benefit beyond cryptocurrencies as a store of value,' Khosrowshahi said. 'So, this is super interesting for us, and we will definitely take a look.'

The CEO of Uber highlighted that stablecoins could represent a strategic advantage for global companies, as they enable international money transfers with reduced costs. According to him, Uber is more interested in this type of digital asset than in Bitcoin, which he classified as a 'proven commodity', but with uncertainties about its future.

Khosrowshahi stated that Uber is still in the 'study phase' regarding the possible adoption of stablecoins in its services — which are among the most used in the world.

Uber and cryptocurrencies

This is not the first time that the executive has shown interest in the use of cryptocurrencies by Uber. In early 2021, Khosrowshahi told CNBC that the transportation giant could start allowing its users to pay for rides using Bitcoin and other cryptocurrencies, and that the company was investigating whether this would be beneficial.

'Just as we accept all types of local currency, we will look into cryptocurrency and/or Bitcoin in terms of currency for transactions. This is good for business and good for our passengers,' he said at the time.

As recalled by a publication from The Block, the following year, Khosrowshahi stated that Uber would 'definitely' accept cryptocurrencies in the future, but also mentioned high costs in the exchange mechanism and environmental concerns.

Dara Khosrowshahi's recent statements align with a broader trend in the sector, where large corporations and financial institutions are increasingly adopting stablecoins for their operational efficiency and liquidity benefits.