Uber Explores Crypto Payments as CEO Discusses Stablecoin Potential
Uber CEO Dara Khosrowshahi announced that the company is exploring the use of crypto, particularly stablecoins, for payments. This statement marks the third time since 2021 that Uber has made such claims.
Key points from the Bloomberg Tech conference:
- Khosrowshahi mentioned Uber is in the “study phase” of evaluating stablecoins for operational use.
- Stablecoins are viewed as having practical benefits beyond being a store of value.
- Uber was an early member of the Diem Association, supporting Meta’s stablecoin initiative since 2019.
- Khosrowshahi noted stablecoins could benefit global companies managing international transactions.
- In previous statements, he indicated interest in accepting cryptocurrencies like BTC as payment but ruled out holding them on the company's balance sheet.
- The acceptance of crypto payments will depend on improvements in exchange mechanisms and environmental considerations.
Khosrowshahi's earlier comments in 2021 and February 2022 suggested future acceptance of crypto payments, though he emphasized that the timing wasn't right then. The market response to his past comments included flat trading for BTC and a subsequent major market correction.