Uber is evaluating stablecoins to reduce the cost of cross-border payments in its global operations.
Stablecoin market cap surpassed $230 billion, with 2024 transaction volumes exceeding Visa and Mastercard combined.
Governments and companies, including Stripe, are increasingly exploring stablecoin integration for financial efficiency.
Uber Technologies Inc. is currently evaluating the introduction of stablecoins in it daily use to lower cross-border payment costs. During the Bloomberg Tech Summit on June 5 in San Francisco, CEO Dara Khosrowshahi confirmed the company is checking on how these digital assets might help in a steady financial operations around the world.
He explained that Uber is in the early stages of research, calling stablecoins a functional form of digital asset. Khosrowshahi emphasized that the company is focused on finding efficient payment solutions, especially for international transactions involving multiple currencies and intermediaries.
Stablecoins Viewed as Functional Financial Tools
Khosrowshahi described stablecoins as particularly interesting for businesses with operations across several countries. He noted that their stability and dollar peg provide utility beyond speculative value. He pointed out that Uber handles payments globally and constantly seeks ways to minimise related costs.
Stablecoins are cryptocurrencies designed to maintain a stable value by being supported with cash or short-term bonds. Most are linked to traditional currencies, with the U.S. dollar being the most common.
Khosrowshahi stated that stablecoins can serve as useful instruments in transporting money worldwide while reducing conversion and transfer costs. According to him, the company is actively reviewing whether these assets could help improve its existing payment systems.
Broader Industry Trends in Stablecoin Adoption
Other companies are also exploring similar paths. In May, Stripe’s co-founder John Collison confirmed his company had begun discussions with banks on stablecoin integration. This followed increasing corporate interest in blockchain-based financial tools.
In the same month, Fireblocks published a report showing that 90% of institutional organizations surveyed were considering stablecoin use in their business operations. The data reflected growing demand for more efficient digital payment methods.
Government and Global Market Movements
Governments have also shown increasing interest in stablecoin development. In April, a Russian finance ministry official revealed plans for a government-backed stablecoin. Around the same time, three Abu Dhabi institutions partnered to launch a stablecoin pegged to the local dirham.
The stablecoin market itself continues to expand rapidly. A Citigroup report published in April revealed that the U.S. dollar-backed stablecoin market cap exceeded $230 billion, marking a 54% rise since 2023. Tether (USDT) and USD Coin (USDC) now hold 90% of the market share.
Additionally, in 2024, total stablecoin volumes exceeded $27.6 trillion, 7.7% ahead of Visa and Mastercard combined. According to Artemis, stablecoin settlements reached $94.2 billion between January 2023 and February 2025. Uber continues to study whether stablecoins offer real savings in cross-border transfers without introducing operational risks.
