Uber May Use Stablecoins to Cut Costs on Global Transfers

Uber is now exploring stablecoins as a way to streamline its global payment system. That might sound surprising coming from a rideshare company, but when you’re dealing with money flowing through dozens of countries, faster and cheaper matters a lot.

CEO Flags Stablecoins as a Potential Game-Changer

At a recent Bloomberg tech summit, Uber CEO Dara Khosrowshahi said the company is actively looking into stablecoins. Not Bitcoin. Not Ethereum. Just the boring, practical kind that are tied to real-world currencies.

On Bloomberg, Uber CEO Dara Khosrowshahi says Uber may consider using stablecoins like $USDC $RLUSD $USDT to cut operational costs when it comes to international payments. pic.twitter.com/X04BAggsSo

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His reasoning is simple. When a company like Uber operates across 70-plus countries, every international payment comes with currency conversion fees, delays, and administrative overhead. That adds up. Stablecoins could help Uber skip the traditional banking maze and get payments where they need to go instantly.

A Simple Solution to a Global Headache

Stablecoins like USDC and USDT are designed to track the value of something like the US dollar. They don’t jump up and down in price every time Elon tweets. They work like digital dollars you can send anywhere.

Uber could, in theory, pay drivers using stablecoins. Instead of waiting days for a transfer to clear or losing money on exchange rates, drivers in countries like Mexico or India could get paid nearly instantly. That’s good for drivers and suitable for Uber’s balance sheet.

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Don’t Expect a Crypto Pivot

Khosrowshahi quickly clarified that Uber isn’t jumping into crypto trading or launching its token. This isn’t about investment. It’s about solving a specific business problem using a tool that might be better than they’ve used before.

He even joked that while Uber won’t be buying Bitcoin, they do think there’s value in blockchain tools that help with efficiency. That kind of mindset is becoming more common in corporate boardrooms.

Legal Questions Still Loom

Of course, nothing in crypto is ever simple. The stablecoin market is still under scrutiny. Lawmakers in the US are debating how to regulate them, who gets to issue them, and whether reserves need to be audited or insured.

Uber is playing it safe here. They’re watching closely, not acting rashly. That’s probably smart, since stablecoins sit in a legal gray area in many places, and one wrong move could create a mess they don’t need.

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Big Tech Is Already Testing the Waters

Uber’s not alone in eyeing stablecoins for real-world use. Visa has been running pilot programs. PayPal launched its own USD-backed stablecoin. Shopify is experimenting with blockchain-based payments. Everyone’s trying to solve the same problem: international payments are too slow and expensive.

Quiet Innovation With Big Potential

Uber’s stablecoin interest isn’t about jumping on a trend. It’s about making payments easier for people around the world. If they pull it off, this might be one of those quiet tech upgrades that make a huge difference without most people noticing.

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Key Takeaways

Uber is exploring the use of stablecoins like USDC and USDT to streamline international payments across its 70+ operating countries.
CEO Dara Khosrowshahi says stablecoins offer practical advantages for global transactions, such as speed, reduced fees, and fewer banking delays.
The company has no plans to invest in crypto or issue its own token, but sees value in using blockchain for efficiency, not speculation.
Regulatory uncertainty remains a concern, with Uber carefully monitoring legal developments around stablecoin issuance and reserve requirements.
Other tech giants like Visa, PayPal, and Shopify are also testing stablecoin integrations, highlighting a broader industry shift toward blockchain payments.

The post Uber May Use Stablecoins to Cut Costs on Global Transfers appeared first on 99Bitcoins.

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