Uber is analyzing the possibility of using stablecoins as a means to optimize international money transfers. The company’s CEO, Dara Khosrowshahi, emphasized that the main focus is on digital currencies pegged to fiat money, as they can make cross-border payments more efficient for global businesses.
This is reported by Finway
Stablecoins — A Promising Tool for Global Companies
In a recent interview, Khosrowshahi explained why Uber is considering the integration of stablecoins, but currently has no announced strategy or specific timeline for launching such a payment method. He also clearly stated that the company does not plan to invest in Bitcoin, as Tesla or Strategy once did, since Uber aims to use cryptocurrencies specifically as a payment tool, rather than a store of value.
“We are still in the exploration phase, but I believe that stablecoins are one of the most interesting forms of cryptocurrency that have practical utility beyond storing value. Stablecoins are very promising, especially for global companies that conduct international money transfers, as they allow for reduced costs,” Khosrowshahi noted.
Integration of Cryptocurrencies Not Yet Timely
The head of Uber stressed that no official decisions or timelines for launching the new feature have been developed yet. The company has also not announced any work on integrating Web3 or implementing crypto wallets, although it continues to monitor trends in the digital finance sector. Back in 2022, Khosrowshahi mentioned the potential for adding crypto payments to the Uber app, but those plans remain in the discussion stage.
Amid the growing global interest in institutional investment in Bitcoin, Uber is betting on the reliability and predictability of stablecoins for conducting financial operations. The company sees significant potential in this direction for reducing costs and increasing the efficiency of cross-border payments.
It is worth noting that the issue of security when using digital currencies remains relevant. Recently in London, an Uber user fell victim to a criminal scheme known as a wrench attack after a ride in a fake taxi, which once again highlights the need for increased attention to user protection when implementing new payment technologies.