Uber is studying stablecoins to streamline global payments. 
Stablecoins could cut cross-border fees and delays significantly. 
CEO Dara Khosrowshahi sees blockchain as a tool for efficiency.

US-based Uber Technologies is undertaking an investigation into stablecoins to overhaul its global payment system. The cross-border transactions are expected to be made faster and cheaper. The company announced the initiative at the Bloomberg Tech Summit in San Francisco on June 5, 2025, where CEO Dara Khosrowshahi said that he is aware of the industry’s needs.

Stablecoins Offer Speed and Savings

Digital currencies that are pegged to stable assets such as the U.S dollar maintain stable valuations. They are unlike volatile cryptocurrencies such as Bitcoin, since they offer reliability in global transactions. If you think about it, Uber runs in over 70 countries and traditional banking systems can quickly be slow and too pricey. Stablecoins could enable near-instant payments with minimal costs.

Khosrowshahi emphasized the potential for efficiency. “Stablecoins allow us to move money in a lower-cost manner,” he said, pointing out how useful such a thing is for a company with Uber scale. It would chop transfer times down from days to seconds and fees to next to nothing.

Uber’s exploration includes stablecoins like USDC and USDT. Currently, the company is not planning to issue its token or invest any money in cryptocurrencies. Instead, it focuses on leveraging blockchain for operational benefits. Uber’s product teams are looking at crypto wallet integration inside the app.

Industry-Wide Momentum for Stablecoins

Uber is not alone in this shift. Stablecoin adoption has already begun to be discussed with financial institutions by Stripe, a payment processor. Institutions all across the world are beginning to acknowledge the relevance of stablecoins. In April 2025, a Russian finance ministry official proposed a government-backed stablecoin, as did Abu Dhabi institutions working together to bring out a dirham-pegged token.

Stablecoins are a hybrid of cryptocurrency, dealing with the speed of the former and stabilizing the latter. They are backed by reserves like cash or government bonds, which help to minimize volatility risks. As a result, they are good for firms such as Uber, whose payment system needs to be predictable in various markets.

The global stablecoin market is expanding rapidly. Financiers are integrating stablecoins into their operations, according to 90 per cent of financial institutions in a 2025 Fireblocks survey. After a year, the market cap increased to $247.3 billion by May 2025, a growth of 54.5%.

Regulatory clarity is fueling adoption. In the U.S., lawmakers are mulling over the GENIUS Act that sets up a stablecoin regulation framework, mandating one-to-one reserves for issuers. Such measures could build trust and accelerate corporate use.

This is in line with Uber’s track record of exploring digital currencies. The company had joined Diem Association, Meta’s now-defunct stablecoin project, in 2019. While Uber has not yet become a crypto payment service provider, Khosrowshahi’s comments indicate that crypto payment service providers are looking for ways to apply blockchain in a practical setting.

The post Uber Taps Stablecoins to Revolutionize Global Payments and Transfers appeared first on Live Bitcoin News.

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Filed under: Bitcoin - @ June 7, 2025 4:16 am