Uber Studies Stablecoins for Cross-Border Payments

Uber CEO Dara Khosrowshahi announced at the Bloomberg Tech conference that the company is in the 'study phase' of exploring stablecoins to reduce costs and enhance the speed of global money transfers. Stablecoins, unlike volatile cryptocurrencies such as Bitcoin, could provide practical benefits for Uber by offering faster settlements and lower foreign exchange fees without exposing the company to price swings. Khosrowshahi highlighted that stablecoin adoption would particularly benefit gig workers in emerging markets and improve Uber’s global fund management. The company does not have an official timeline or commitment and is not considering holding cryptocurrencies on its balance sheet. This initiative reflects a broader trend among corporations and financial institutions evaluating stablecoins for cross-border payments. Uber’s stock experienced a brief uptick following the announcement, indicating positive investor sentiment.