Uber Eyes Stablecoins to Slash $2B+ in Cross-Border Payment Fees
Ride-hailing giant Uber is exploring stablecoin integration—a move that could disrupt traditional payment rails and save millions in FX fees. Because nothing says 'efficiency' like cutting out banking middlemen.
The play? Bypass SWIFT delays and 3-5% forex spreads by settling driver payouts in USDC or other dollar-pegged tokens. Early estimates suggest 40-60% cost reduction on high-volume routes like LATAM to US transactions.
Watch for pilot programs in crypto-friendly markets like Dubai or Singapore first—where regulators won't throw a tantrum over dollar alternatives. Just don't expect your driver to explain DeFi protocols between potholes.
Corporate Interest in XRP Surges as Firms Eye It for Treasury Reserves
Corporate and government interest in stablecoins is growing. Stripe has begun discussions with banks, and a Fireblocks report found 90% of institutions are assessing stablecoin use. Meanwhile, countries like Russia and the UAE are exploring state-backed versions.
According to Citigroup, the stablecoin market cap hit $230 billion in April, with annual transaction volumes surpassing $27 trillion—outpacing Visa and Mastercard. Uber’s interest reflects a broader shift toward blockchain-based tools for financial efficiency.
