Uber CEO Considers Stablecoins for Ride Payments
06 Jun, 2025 ● Crypto people
Uber is currently exploring the use of stablecoins to lower the cost of international money transfers, according to CEO Dara Khosrowshahi.
Speaking at the Bloomberg Tech Summit in San Francisco on June 5, Khosrowshahi said the company is still in the “study phase” but finds stablecoins to be one of the more compelling crypto applications with real-world utility beyond serving as a store of value.
“We’re still in the study phase, I’d say, but stablecoin is one of the, for me, more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value,” he said.
“Obviously, you can have your opinions on Bitcoin, but it’s a proven commodity, and you know, people have different opinions on where it’s going,” he added.
He described stablecoins as “super interesting” from the perspective of facilitating payments, particularly for a global business like Uber.
According to him, using stablecoins could help reduce the cost of moving money across borders.
“I do think that stablecoin is quite promising, especially for global companies that are moving money around globally to create a mechanism for us to essentially reduce costs in terms of moving money internationally,” he said.
Interest in stablecoins is growing across industries. In May, Stripe co-founder and president John Collison mentioned that the company had begun early conversations with banks about adopting stablecoins.
A recent report by Fireblocks also revealed that 90% of institutional players are looking into stablecoin applications.
Governments are joining the trend as well. Russia’s finance ministry has proposed creating a state-backed stablecoin, while several major institutions in Abu Dhabi have announced plans for a dirham-pegged version.
According to Citigroup, the market capitalization of U.S. dollar-pegged stablecoins surpassed $230 billion in April, a 54% rise from the previous year. USDT and USDC account for 90% of that market.
In 2024, stablecoin transaction volume hit $27.6 trillion, outpacing the combined volume of Visa and Mastercard.
Artemis data shows $94.2 billion in stablecoin settlements between January 2023 and February 2025.
Sources:
https://cointelegraph.com/news/uber-study-phase-stablecoins-lower-costs
