Uber Looking Into Using Stablecoins for Payments
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Uber’s CEO, Dara Khosrowshahi, has once again said the company is studying the use of cryptocurrency, especially stablecoins, as a possible payment method. He made this statement during the Bloomberg Tech conference in San Francisco. This is the third time since 2021 that Uber has mentioned the idea of accepting crypto payments.
Khosrowshahi highlighted that stablecoins are the most practical type of crypto, especially for international use. He also pointed out that while people may have mixed opinions about Bitcoin, stablecoins offer clear value for global businesses.
Uber Shows Interest in Stablecoins
Khosrowshahi said Uber is in the “study phase” of looking into stablecoins, which are digital currencies designed to hold steady value. He explained that they could help global companies like Uber send money across borders more smoothly. Uber has already shown past interest in digital money. In 2019, it joined the Diem Association, a group that supported Facebook’s (now Meta’s) plan for a global stablecoin, which was later canceled.
Source: DNA Crypto
Even though Khosrowshahi sees potential in stablecoins, no confirmation of a launch date or specific plans has been made. However, he made it plain that the corporation is still considering the idea. As it stands, this cautious approach demonstrates that the corporation is interested in cryptocurrency but does not want to make a hasty choice before learning how it will function for their business.
Previous Crypto Comments by Uber
It is important to note that this is not the first time Uber has talked about using crypto. Back in 2021, Khosrowshahi told CNBC that Uber would look into accepting Bitcoin and other cryptocurrencies for rides. However, he also said the company had no plans to invest cash into crypto, preferring to keep its funds safe.
Then, in early 2022, he told Bloomberg that Uber would “absolutely” accept crypto payments in the future but said the technology needed to become cheaper and more eco-friendly first. His comments at that time came just before a large crypto market drop that spring, which might explain why the company has been cautious.
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