The Coin Rise 2025-06-06 11:40:59

Uber Eyes Stablecoins to Cut Cross-Border Payment Costs

Uber is exploring the use of stablecoins as a means to reduce the cost and complexity of international payments, according to CEO Dara Khosrowshahi. Speaking at the Bloomberg Tech Summit in San Francisco on June 5, Khosrowshahi confirmed that the ridesharing giant is in the “study phase” of evaluating stablecoins as part of its broader fintech strategy. “We’re definitely going to take a look,” Khosrowshahi said during a live interview. “Stablecoin is one of the, for me, more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value.” While he acknowledged Bitcoin’s popularity and established presence, he noted that stablecoins offer something more tangible for companies with global financial operations. Stablecoins are digital assets designed to mirror the value of traditional currencies—most commonly the US dollar—by being backed with fiat reserves and short-term treasury instruments. Khosrowshahi emphasized that their utility as a payment vehicle is what draws Uber’s interest. “They are super interesting to us, especially for moving money across borders and reducing international transaction costs,” he said. Uber Joins List of Companies Exploring Stablecoins Uber isn’t alone in considering stablecoins for mainstream financial infrastructure. Earlier this year, Stripe co-founder John Collison also revealed that the payment firm had entered preliminary talks with banks about integrating stablecoins into their systems. Stripe’s interest, like Uber, stems from the potential of these digital currencies to streamline cross-border payments and reduce reliance on outdated banking rails. According to a recent report by Fireblocks, 90% of surveyed institutional players are currently exploring the use of stablecoins in their operations. This includes not only fintech companies but also traditional banks and government institutions. Globally, governments are also exploring stablecoins. In April, Russia’s finance ministry proposed the creation of a government-backed stablecoin, while in Abu Dhabi, three major institutions teamed up to launch a dirham-pegged coin . These moves reflect a growing recognition of stablecoins as tools not just for speculation, but for efficient, regulated financial transactions. Stablecoin Market Sees Rapid Growth The stablecoin market has seen explosive growth over the past year. Citigroup reported that the market cap for U.S. dollar-backed stablecoins crossed $230 billion in April 2025—a 54% increase year-over-year. Tether (USDT) and Circle’s USDC dominate the market, making up roughly 90% of the total capitalization. With annual transaction volumes reaching $27.6 trillion in 2024—outpacing both Visa and Mastercard—stablecoins are fast becoming one of the most important tools in digital finance. For global platforms like Uber, their adoption may soon move from consideration to reality. The post Uber Eyes Stablecoins to Cut Cross-Border Payment Costs appeared first on TheCoinrise.com .

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