Uber Explores Stablecoin Adoption for Global Transfers

Uber CEO Dara Khosrowshahi has revealed the company’s growing interest in stablecoin adoption as a means to accelerate and streamline international transactions.

As stablecoin adoption continues to surge, major global firms like Uber are beginning to recognize the potential of these crypto assets. At the Bloomberg Tech Summit in San Francisco, CEO Dara Khosrowshahi explained that stablecoins—crypto tokens backed by fiat or commodities—offer a compelling way to manage money globally without the volatility of traditional cryptocurrencies like Bitcoin.

The Uber chief emphasized that the company is still in the exploratory phase but sees real-world value in stablecoin adoption. “It’s one of the more interesting instantiations of crypto,” said Khosrowshahi. “It has a practical benefit, especially for a global business like ours.” According to him, stablecoins could reduce the cost and friction involved in cross-border payments—a priority for a tech-driven company operating across more than 70 countries.

Stablecoin adoption has become a recurring theme in the corporate world, particularly for firms seeking to simplify global remittances. Unlike Bitcoin, whose value can swing wildly, stablecoins remain pegged to stable assets like the US dollar, the euro, or even gold. Khosrowshahi pointed out that while opinions vary on Bitcoin, stablecoins appear far more suited for real-time financial logistics.

The increasing trend of stablecoin adoption is not without regulatory hurdles. In the U.S., stablecoins operate in a somewhat grey zone. Although legislative efforts like the STABLE Act and the GENIUS Act have been introduced, they’ve yet to provide a definitive framework. Even with this ambiguity, Uber is joining the ranks of firms eyeing stablecoin adoption to modernize their payment infrastructures.

Interestingly, Uber’s shift towards stablecoin adoption follows a cautious approach to crypto. Back in 2021, Khosrowshahi shared that Uber was open to accepting crypto payments but had reservations about adding Bitcoin to its treasury due to volatility. In 2022, the company confirmed it would “absolutely” embrace crypto payments in the future—though high transaction costs remained a concern. Now, stablecoins appear to offer a promising middle ground.

Other major players in tech and fintech are also riding the wave of stablecoin adoption. Payments company Stripe has launched new tools powered by AI and stablecoins to empower global businesses. These moves indicate a broader trend where companies prioritize efficiency and lower costs in global finance—key goals aligned with the benefits of stablecoin adoption.

According to Khosrowshahi, stablecoins could be the breakthrough solution for multinational companies that manage high volumes of cross-border payments. With stablecoin adoption, firms like Uber can bypass expensive intermediaries and avoid delays tied to traditional bank systems. The CEO’s comments reflect a shift in how traditional businesses perceive crypto—not as a risky asset class, but as a functional tool for efficiency.

Despite regulatory uncertainty in the U.S., interest in stablecoin adoption shows no signs of slowing. While figures like Peter Schiff warn about the long-term implications, many tech leaders see potential in these tokens. The Uber CEO’s backing lends further credibility to stablecoin adoption as a strategic move rather than a speculative bet.

For Uber, embracing stablecoin adoption may not only cut costs but also future-proof their financial operations in an increasingly digital world. As regulators debate policies and competitors make moves, Uber’s proactive exploration of stablecoins places it among the innovators shaping the next generation of financial technology.