Uber Revs Crypto Engine Again: CEO Plots Stablecoin Takeover for Cross-Border Payments

After years of lukewarm crypto flirtations, Uber's CEO is slamming the accelerator on stablecoin adoption—and Wall Street's watching.

Why now? The ride-hailing giant's global operations bleed cash on FX fees and slow settlements. Stablecoins could bypass banking middlemen—saving millions while annoying legacy finance suits.

But here's the kicker: Uber's move could onboard millions to crypto wallets overnight. Forget 'number go up'—this is real-world utility staring down Visa's 3% vig.

(Cynical aside: Nothing motivates corporate crypto adoption like saving on fees—except maybe regulatory arbitrage.)

TLDR

• Uber CEO Dara Khosrowshahi confirmed the company is exploring stablecoins for global payment settlements at Bloomberg Tech conference
• Stablecoins could reduce foreign exchange costs and speed up payments in regions with expensive or slow banking systems
• This marks the third time since 2021 that Uber has expressed interest in crypto payments, following similar statements in September 2021 and February 2022
• The company is in a “study phase” evaluating operational, regulatory, and technical factors before any implementation
• Uber previously supported Meta’s failed Diem stablecoin project and continues exploring crypto wallet development within its app

Uber Technologies is once again examining cryptocurrency integration, with CEO Dara Khosrowshahi announcing the ride-hailing company’s exploration of stablecoins for international payment settlements. Speaking at the Bloomberg Tech conference in San Francisco on June 5, Khosrowshahi outlined how dollar-pegged digital tokens could streamline the company’s global financial operations.

🚨 Another win for STABLECOINS.@Uber is officially in the “study phase” of integrating stablecoins to reduce global payment costs. CEO Dara gets it — fast, cheap, borderless money is the future.

This is exactly what we’ve been saying.
The world is waking up.#Stablecoins… pic.twitter.com/WRp4fksvz8

— Stabolut (@stabolut) June 6, 2025

The CEO explained that blockchain-based stablecoins could settle payments faster than traditional correspondent banking channels. This technology could eliminate multiple layers of foreign exchange fees that currently burden international transactions.

Khosrowshahi described stablecoins as having “practical benefits beyond being a store of value” compared to other cryptocurrencies. He emphasized their potential value for global companies that regularly MOVE money across international borders.

The ride-hailing giant operates in numerous countries worldwide, serving 171 million monthly active platform consumers as of December 31, 2024. Near-instant settlement through dollar-denominated tokens could reduce operational costs in regions where local banking infrastructure remains expensive or inefficient.

Uber currently finds itself evaluating operational, regulatory, and technical variables before making any final decisions about stablecoin implementation. The company maintains it is in a “study phase” regarding this digital payment exploration.

Previous Crypto Commitments

This announcement represents the third time since 2021 that Uber has publicly expressed interest in cryptocurrency integration. Khosrowshahi previously told CNBC in September 2021 that Uber would “look into” accepting Bitcoin and other cryptocurrencies as payment options.

The CEO made similar statements in February 2022, telling Bloomberg that the company WOULD “absolutely” accept cryptocurrencies as payment “at some point” in the future. He emphasized waiting for exchange mechanisms to become less expensive and more environmentally friendly.

During his August 2024 CNBC interview, Khosrowshahi stated Uber would “definitely” add bitcoin payments once regulatory clarity improved and technical integration challenges were resolved. The company already supports multiple payment methods including credit cards, PayPal, Venmo, and Apple Pay.

Internal reports suggest Uber’s product teams have explored developing a dedicated crypto wallet within the company’s mobile application. The teams have consulted external specialists regarding compliance screening and transaction security measures.

Regulatory Considerations

Khosrowshahi stressed that any stablecoin deployment would respect existing consumer protection regulations. The current exploration does not involve holding cryptocurrency on Uber’s corporate balance sheet, maintaining the company’s conservative financial approach.

The CEO has consistently ruled out speculative treasury investments in digital assets. He frames crypto integration strictly as a customer payment option rather than an investment strategy.

Industry Background

Uber participated in Meta’s now-defunct Diem stablecoin project, joining the Diem Association in 2019. The association aimed to reshape global payments through a Facebook-backed digital currency that ultimately failed to launch due to regulatory pressure.

The company continues refining its cryptocurrency payment plans while awaiting clearer regulatory guidance from lawmakers and government agencies. Khosrowshahi concluded his Bloomberg Tech presentation by confirming Uber “will take a look” at stablecoins as the regulatory landscape develops.