Uber Revisits Crypto Payments as CEO Highlights Stablecoin Potential

 

Uber Eyes Stablecoins in Ongoing Crypto Evaluation

Uber is once again exploring the possibility of accepting cryptocurrency payments, with CEO Dara Khosrowshahi confirming the company is currently evaluating stablecoins for operational use. This marks the third time since 2021 that Uber has shown interest in integrating crypto into its payment infrastructure.

Speaking at the Bloomberg Tech conference in San Francisco, Khosrowshahi described the initiative as being in a “study phase,” focusing on the practicality of stablecoins. “I think stablecoins are one of the more interesting instantiations of crypto that have a practical benefit beyond being a store of value,” he noted. He also reiterated his interest in stablecoins for facilitating international transactions, citing their utility for global companies like Uber.

Cautious Approach Despite Repeated Interest in Crypto

While Uber has demonstrated ongoing curiosity about digital assets, it has remained cautious in implementation. The company was an early backer of the now-defunct Diem (formerly Libra) project led by Meta, joining the initiative in 2019 in support of its stablecoin ambitions. However, Uber has consistently avoided adding crypto to its balance sheet, with Khosrowshahi once again stating, “We are going to keep our cash safe.”

In February 2022, the CEO told Bloomberg that Uber would “absolutely” accept crypto in the future, but emphasized that the timing wasn’t right due to concerns over costs and environmental impact. “As the exchange mechanism becomes less expensive and more environmentally friendly, I think you will see us leaning into crypto a little bit more,” he said at the time.

Historically, his crypto-related remarks have coincided with key market phases. In 2021, his comments were followed by a flat period for Bitcoin, while his February 2022 statement came just weeks before a significant market downturn that rattled the crypto sector.

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