Uber Is Once Again Considering Crypto Payments

Uber CEO Dara Khosrowshahi said the ride-hailing giant is exploring the use of crypto as a payment method, which marks the third time the company has made the claim since 2021.

Uber CEO Dara Khosrowshahi has announced that the ride-hailing giant is once again considering the use of cryptocurrencies as a payment method, marking the third time the company has expressed interest since 2021. Speaking at the Bloomberg Tech conference in San Francisco on June 5, Khosrowshahi stated that Uber is in the "study phase" of evaluating stablecoins for operational use [1][2][3].

Stablecoins, which are digital currencies pegged to the value of fiat currencies, have gained traction for their practical benefits, particularly for global companies moving money internationally. Khosrowshahi emphasized that stablecoins offer a promising solution for reducing costs and increasing efficiency in cross-border transactions. He noted that while Bitcoin is a proven commodity, stablecoins seem particularly promising for their potential to simplify and lower the costs of international money transfers [1][2][3].

Uber's interest in cryptocurrencies dates back to 2021 when Khosrowshahi first mentioned the possibility of accepting Bitcoin (BTC) as a payment method. However, the company has not yet implemented cryptocurrencies as a payment option. In 2022, Khosrowshahi reiterated that Uber would "absolutely" accept cryptocurrencies as a form of payment at "some point" in the future, but emphasized that the time was not yet right [1][2].

The current exploration of stablecoins builds on Uber's previous involvement in cryptocurrency initiatives. In 2019, Uber became an early member of the Diem Association (formerly Libra), supporting Meta's now-defunct stablecoin initiative aimed at reshaping global payments [1][2].

Stablecoins are appealing to global companies due to their ability to reduce the cost of moving money, making cross-border transfers faster and more efficient. Traditional cross-border transfers can take up to five business days and involve multiple intermediaries, each adding to the cost. In contrast, stablecoins enable money to move globally with internet speed and without intermediaries, potentially reducing settlement costs from $30 wires to sub-dollar fees [3].

The exploration of stablecoins by Uber aligns with the broader trend of major financial institutions and fintech companies exploring cryptocurrencies for cross-border payments. Circle Internet Financial, the issuer of the USD Coin (USDC) stablecoin, debuted on the New York Stock Exchange in June 2025, with its shares tripling in price on the first day of trading [3].

References:
[1] https://www.coindesk.com/markets/2025/06/06/uber-once-again-says-it-s-considering-crypto-years-after-mulling-btc-payments
[2] https://finance.yahoo.com/news/uber-once-again-considering-crypto-030119942.html
[3] https://www.pymnts.com/cryptocurrency/2025/uber-considers-using-stablecoins-for-cross-border-money-transfers/