Uber studies using stablecoins to reduce costs in global payments

• Uber evaluates stablecoins for efficient international payments
• Uber CEO sees practical potential in stablecoins
• Stablecoins can make transfers cheaper in the digital economy

Uber, one of the world’s largest mobility and delivery platforms, is analyzing the use of stablecoins as a means of payment. The information was revealed by Dara Khosrowshahi, CEO of the company, during his participation in the Bloomberg Tech Summit in San Francisco.

⚡️ LATEST: Uber CEO says the company is considering using stablecoins to lower costs. pic.twitter.com/J1TcdfaG3l

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Second Khosrowshahi said the company is in the “study phase” of using stablecoins, noting that it sees a significant practical application in them. “I think stablecoin is one of the most interesting instances of cryptocurrencies, with a practical benefit beyond cryptocurrencies as a store of value,” he said.

The executive also highlighted that stablecoins could represent a more efficient solution for international transactions, helping global companies reduce costs on transfers of value between countries. “This is super interesting for us, and we will definitely take a look,” he added.

While Uber has considered other cryptocurrencies in the past, such as bitcoin, Khosrowshahi made it clear that the company’s preference is for digital assets with lower volatility. In his words, bitcoin is a “proven commodity,” but with differing views on its future.

The intention to integrate crypto assets into Uber's payment structure is not new. In 2021, the CEO commented that the company was open to accepting cryptocurrencies if there were operational gains. However, he also signaled that bitcoin would not be included in the company's corporate assets.

In 2022, he reinforced that Uber would “definitely” consider accepting cryptocurrencies, although he had reservations about the transaction costs and environmental impacts of certain networks.

The discussion about stablecoins is gaining momentum in the United States, especially with the support of politicians like Donald Trump. Bills like the Genius Act seek to establish legal guidelines for issuers and use of these digital currencies.

Meanwhile, major banks such as Bank of America, Citigroup and Wells Fargo are discussing the launch of a joint stablecoin, signaling the growing institutional interest in this sector of cryptocurrencies.