Uber is considering integrating Stablecoins into its payment systems to streamline cross-border transactions. Uber CEO Data Khosrowshahi revealed at the Bloomberg Tech Summit on Wednesday.
Khosrowshahi emphasised that while Uber is still in the “study phase,” Stablecoins pegged at the stable assets like the U.S. dollar, presents a more practical solution than volatile alternatives like Bitcoin.
According to him:
“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,” he said. “it’s quite promising, especially for global companies moving money around internationally to reduce costs.”
Unlike Bitcoin, which he called “proven commodity” with divided opinion on its future, Stablecoins offer price stability, making them viable for business transactions.
However, this development is made public amid regulatory uncertainty in the U.S., where lawmakers have yet to establish clear guidelines. recent proposals like the STABLE Act and the GENIUS Act are yet to be reach a final decree by the legislatives, raising concerns among critics like Bitcoin advocate, Peter Schiff.
Despite these challenges, major firms like Stripe are already leveraging Stablecoins and artificial intelligence (AI), to enhance financial services, signalling broader corporate interest in blockchain-based payments.
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