CEO Dara Khosrowshahi Calls Stablecoins ‘Promising’ for International Transactions
Uber Technologies Inc. is exploring the potential use of stablecoins as a cost-effective method for moving money across international borders, according to CEO Dara Khosrowshahi, who spoke at the Bloomberg Technology Summit in San Francisco on June 5.
While the ridesharing giant has not yet committed to implementing any blockchain-based payment systems, Khosrowshahi confirmed that the company is in a “study phase”, assessing the practical applications of stablecoins as part of its global financial operations.
Stablecoins Offer Practical Use Beyond Store of Value
Khosrowshahi framed stablecoins as one of the most promising use cases of cryptocurrency for large, multinational companies. Unlike volatile digital assets such as Bitcoin, he said stablecoins present practical financial benefits with reliable price stability.
“We’re still in the study phase, I’d say, but stablecoin is one of the more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value,” Khosrowshahi said.
“Obviously, you can have your opinions on Bitcoin, but it’s a proven commodity. People have different opinions on where it’s going,” he added, underscoring the more transactional appeal of stablecoins over speculative digital assets.
Why Stablecoins Matter to Uber
Khosrowshahi noted that Uber’s global operations involve complex money transfers across borders, often incurring significant costs due to foreign exchange fees, banking intermediaries, and regulatory delays.
“Stablecoin is super interesting to us as a payment vehicle for transporting money,” he said. “Especially for global companies… we’re looking to create a mechanism to reduce costs in terms of moving money internationally.”
Uber’s exploration reflects a broader interest in stablecoin technology as a financial rail, particularly among multinational corporations looking to improve the efficiency and transparency of their treasury operations.
What Are Stablecoins?
Stablecoins are a type of cryptocurrency designed to mirror the value of traditional fiat currencies, most commonly the U.S. dollar. These assets are typically backed by reserves such as cash and short-term government securities, making them less volatile than other cryptocurrencies.
Leading stablecoins like Tether (USDT) and USD Coin (USDC) account for over 90% of the market, offering fast and predictable on-chain settlement with near-instant confirmation.
Corporate Interest in Stablecoins Growing
Uber is not alone in its interest. In May, Stripe co-founder and president John Collison told Bloomberg that the payments company had been in early discussions with banks about integrating stablecoin infrastructure into its network.
Meanwhile, a report from Fireblocks, an enterprise-grade digital asset platform, found that 90% of institutional players surveyed are currently exploring stablecoin usage in their operations, either for payments, liquidity management, or on-chain settlement.
Governments Are Also Entering the Stablecoin Arena
Stablecoin adoption is no longer limited to private companies. In April, a Russian Finance Ministry official suggested that the country’s government might issue its own ruble-backed stablecoin. In the same month, three major institutions in Abu Dhabi teamed up to launch a dirham-pegged stablecoin, further underscoring global momentum behind sovereign-backed digital currencies.
Stablecoin Market Reaches $230 Billion
A report by Citigroup in April revealed that the total market capitalization of USD-denominated stablecoins surpassed $230 billion, marking a 54% increase year-over-year. Tether and USDC continue to dominate this space, accounting for roughly 90% of circulating supply.
The stablecoin market is not only growing in size but also in utility. In 2024, total stablecoin transaction volumes hit $27.6 trillion, surpassing the combined transaction volumes of Visa and Mastercard by 7.7%, according to Citigroup.
Data from Artemis further shows that between January 2023 and February 2025, over $94.2 billion in stablecoin transactions were settled globally — a figure expected to climb as more payment and fintech platforms adopt the technology.
Implications for Fintech and Cross-Border Payments
If Uber were to adopt stablecoins into its core payment system — even in limited markets or pilot programs — it could set a powerful precedent for other multinational firms to follow. With operations in over 70 countries, Uber’s entry into blockchain-enabled finance would place it at the forefront of corporate crypto experimentation.
While the company has yet to detail its timeline or partners for a stablecoin initiative, the fact that it is openly considering it reflects a broader shift in fintech, where traditional firms are re-evaluating payment infrastructure in the wake of blockchain innovation.
Conclusion
Uber’s exploration of stablecoins marks the latest indication that digital assets are moving from speculative tools to mainstream financial instruments, especially for cost reduction in cross-border transactions. CEO Dara Khosrowshahi’s comments suggest that the company is seriously evaluating blockchain-based solutions for global payment efficiencies, even as broader crypto adoption continues to evolve.
As more institutions and governments adopt stablecoins, Uber’s potential move could help normalize the technology in the eyes of both regulators and everyday users, pushing the industry closer to a new era of programmable money and real-time global finance.
