What You Need to Know
- Uber’s CEO Dara Khosrowshahi indicated that the company is looking into using stablecoins for payments.
- He pointed out the practical benefits stablecoins offer for companies engaged in international transactions.
- Although Uber has shown interest in cryptocurrencies previously, it has not yet made any implementation decisions regarding them as a payment option.
Uber’s CEO Dara Khosrowshahi announced that the ride-hailing company is once again assessing the incorporation of cryptocurrency as a payment option. This statement marks the company’s third mention of such consideration since 2021.
Speaking at the Bloomberg Tech conference in San Francisco, Khosrowshahi described the current stage as one of exploration, particularly focusing on stablecoins.
“I think stablecoins are one of the more interesting instantiations of crypto that have a practical benefit beyond being a store of value,” Khosrowshahi remarked.
Uber was among the first to join the Diem Association (previously known as Libra) back in 2019, aimed at supporting Meta’s now-defunct stablecoin project intended to reform global payment systems.
Khosrowshahi underscored the prospects for stablecoins:
“You can have your opinions on Bitcoin, it’s a proven commodity, and people differ on where it’s going. But stablecoins seem quite promising, especially for global companies moving money around internationally.”
In previous comments, Khosrowshahi had expressed intent to consider accepting Bitcoin and other cryptocurrencies as a payment method, yet highlighted that the timing wasn’t optimal during those discussions. He indicated that as transaction methods evolve to be more economical and environmentally friendly, Uber might embrace cryptocurrency more actively.
