Uber Explores Stablecoins to Streamline Cross-Border Payments

Uber CEO Dara Khosrowshahi has identified stablecoins as a potential solution to the inefficiencies plaguing international payments. Speaking at the Bloomberg Technology Summit, Khosrowshahi highlighted the challenges of moving money across borders, particularly in regions with volatile currencies or high remittance costs. "When you think about global mobility of money, the friction is still significant," he said. "The advantages of stablecoins as a store of value and as a medium of exchange, especially in the global context, are quite interesting."

The ride-hailing giant is evaluating blockchain technology to accelerate driver payouts and reduce transaction fees. While no formal rollout has been announced, the company's openness to digital asset solutions signals a strategic shift toward leveraging crypto infrastructure. Regulatory compliance remains a critical consideration for any potential integration.

Uber's exploration of stablecoins aligns with its broader ambition to evolve beyond transportation into a global mobility and payments platform. The MOVE could set a precedent for other multinational corporations facing similar cross-border payment challenges.