Uber Explores Stablecoins for Payments, Says CEO Dara Khosrowshahi

Uber CEO Dara Khosrowshahi has reaffirmed the company’s interest in cryptocurrency, stating at the Bloomberg Tech conference that Uber is actively exploring stablecoins for future payment integration. This marks the third time since 2021 the ride-hailing giant has publicly expressed interest in digital assets.

Khosrowshahi noted that Uber is in the “study phase,” evaluating stablecoins for their practicality in facilitating international transactions. “Stablecoins are one of the more interesting forms of crypto with practical benefits beyond just being a store of value,” he said. While the company is not committing to any specific crypto at the moment, it views stablecoins as a promising tool for efficient global money movement.

Uber’s crypto curiosity dates back to 2019, when it joined Meta’s now-defunct Diem (formerly Libra) stablecoin initiative. Since then, Khosrowshahi has made several public statements about potential crypto adoption. In September 2021, he told CNBC the company would consider accepting Bitcoin and other cryptocurrencies, but ruled out holding crypto on its balance sheet, citing concerns over volatility and risk.

In February 2022, he told Bloomberg that Uber would “absolutely” accept crypto payments eventually, but emphasized the need for more cost-effective and environmentally friendly transaction mechanisms.

While Uber hasn’t taken action yet, Khosrowshahi’s latest comments signal a continued openness to integrating blockchain-based solutions. His past crypto remarks have coincided with key market moments, such as Bitcoin’s price stagnation in late 2021 and a major correction in early 2022.

As stablecoins gain traction globally, Uber’s interest could lead to significant adoption momentum if implemented. Investors and crypto enthusiasts will be watching closely for any further developments from one of the world’s leading mobility platforms.