Uber Explores Stablecoins for Payments, Says CEO Khosrowshahi at Bloomberg Tech Summit
Uber is taking a serious look at stablecoins as a potential tool for payments, CEO Dara Khosrowshahi confirmed during the Bloomberg Tech Summit held Thursday in San Francisco. While still in the exploratory phase, the global ride-hailing and delivery giant sees promising use cases in the crypto-based technology—particularly for cross-border transactions.
“Stablecoin is one of the more interesting instantiations of crypto that has a practical benefit beyond being a store of value,” said Khosrowshahi. “That’s super interesting to us, and we’re definitely going to take a look.”
Stablecoins—digital assets pegged to traditional currencies like the U.S. dollar—offer a way to move money internationally with fewer fees and less friction, something global platforms like Uber constantly grapple with. According to Khosrowshahi, this functionality could help Uber streamline payment flows across its network of drivers, couriers, and consumers in more than 70 countries.
The CEO emphasized that the company isn’t diving headfirst into crypto but is “in the study phase” of assessing whether stablecoins can play a practical role in Uber’s financial ecosystem. He also differentiated stablecoins from more volatile digital assets like bitcoin, calling the latter a “proven commodity” but not necessarily suited for Uber’s payment needs.
This isn't the first time Uber has shown openness to crypto. Back in 2021, Khosrowshahi said the company was open to accepting bitcoin and other digital currencies if they proved beneficial to its operations. However, he also ruled out holding bitcoin on the company’s balance sheet, citing volatility. In 2022, he reiterated Uber's willingness to adopt crypto eventually, but pointed to high transaction costs and environmental concerns as current barriers.
Now, the regulatory environment around stablecoins is rapidly evolving. The U.S. government, under President Donald Trump, has expressed vocal support for clearer legislation around stablecoins, notably backing the proposed Genius Act. Meanwhile, major financial institutions like Bank of America, Citigroup, and Wells Fargo are reportedly exploring the launch of a joint stablecoin through their subsidiaries—adding momentum to what could become a major shift in digital payments.
As Uber evaluates its options, the move could signal a broader trend among multinational companies looking to adopt blockchain-based solutions for operational efficiency.