Uber is investigating Dollar-Pegged Stablecoins as a tool for transferring funds to his worldwide network, said CEO Dara Khosrowshahi on 5 June at the Bloomberg Tech Conference in San Francisco.
Khosrowshahi explained that Blockchain -based tokens could arrange payments faster than traditional correspondent bank channels and eliminating the current costs.
He said that Stablecoins “have a different practical advantage than the historical value of Crypto,” adding that the company measures operational, regulatory and technical variables before he decides whether they will continue.
Data shows that Uber has had 171 million monthly active platform consumers As of December 31, 2024.
The company is of the opinion that near-instructive settlement in a dollar, drenched by dollar, can compress the costs in regions where local bank rails remain expensive or slow.
Khosrowshahi emphasized that the study phase does not keep a crypto on the balance sheet and that any implementation would respect existing rules for consumer protection.
Bitcoin payments on the route map
The recent comments from Uber CEO follow his comments in August 2024, when he told CNBC that Uber “certainly would” add Bitcoin and other cryptocurrencies as payment options as soon as regulatory clarity and technical integration nuisances can be conquered.
At the time, Khosrowshahi noted that Uber already supports credit cards, PayPal, Venmo and Apple Pay and said that adding crypto would extend the same flexibility to riders and couriers without exposing the company to digital price prices.
He excluded speculative treasury investments and strictly returned the plan to a customer choice initiative.
Reports have surfaced that product teams have since investigated the development of a special crypto wallet within the Uber app and have consulted external specialists about compliance screening and transaction protection, according to people who are familiar with the effort.
For now, Uber stays in an exploratory position. Khosrowshahi closed his Bloomberg Tech -Keynote by saying that the company “will look at Stablecoins” and his crypto payment plans continues to refine, pending clear rules of legislators and supervisors.
