An Uber taxi
Uber CEO Dara Khosrowshahi says the company is considering the use of stablecoins for global payments to reduce cost.
Ad
Speaking in an interview on 5 June, Khosrowshahi said while the company is still in the study phase, he believes stablecoins hold great potential.
Cutting cost
Stablecoins are “stable” versions of cryptocurrencies. Because cryptocurrencies are highly volatile, they are not ideal for payments, hence the need for stablecoins.
Several businesses have been considering the use of these crypto assets for payments because they are generally stable in terms of value, and cost much less for transactions, just like regular cryptocurrencies.
Ad
This makes them ideal for cross-border payments where currency conversions can cost a lot. He said during the interview:
“Yeah, we’re still in the study phase, I’d say, but I think Stablecoin is one of the more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value. You know, obviously you can have your opinions on Bitcoin, but it’s a proven commodity. Well, and you know, people have different opinions on where it’s going. But I do think that it is stable. Bitcoin is quite promising, especially for global companies that are moving money around globally to create a mechanism for us to essentially reduce costs in terms of moving money internationally. So that’s super interesting to us. And we’re definitely going to take a look.”
Increasing demand
Over the years, stablecoins have been the most popular group of crypto assets as crypto skeptics also use them for payments.
The most popular of them, Tether (USDT) is currently the third-largest crypto asset by market cap because of this, and with big retailers like Uber coming in, the demand is expected to only increase in the coming years.
This will also potentially pave the way for Bitcoin, as stablecoins will make skeptics more comfortable and they can move on to using crypto as a store of value.
How do you rate this article?
Subscribe to our YouTube channel for crypto market insights and educational videos.
Join our Socials
Briefly, clearly and without noise – get the most important crypto news and market insights first.
Most Read Today
1
Samsung crushes Apple with over 700 million more smartphones shipped in a decade
2Peter Schiff Warns of a U.S. Dollar Collapse Far Worse Than 2008
3Dubai Insurance Launches Crypto Wallet for Premium Payments & Claims
4XRP Whales Buy The Dip While Price Goes Nowhere
5Luxury Meets Hash Power: This $40K Watch Actually Mines Bitcoin
Latest
Most Read Today
MOST ENGAGING
8
Also read
Similar stories you might like.
Bitcoin
Why Bitcoin Looks Weak Today But Strong Long-Term
Ana | 2026-01-29
Altcoins
Tom Lee’s Bitmine Deepens Massive Ethereum Staking Bet to $7.6B
Ana | 2026-01-29
Altcoins
Dogecoin Bulls vs. Bears? One Key Line Decides Everything
Ana | 2026-01-29
Altcoins
XRP Whales Buy The Dip While Price Goes Nowhere
Ana | 2026-01-29
Altcoins
Russia Finalizes Rules for Bitcoin, Ethereum, and Stablecoins
Ana | 2026-01-29
Crypto News
Coinbase’s Prediction Markets Mark a Structural Shift for Crypto
Rokas | 2026-01-29
Crypto News
OKX Launches Mastercard Stablecoin Card in Europe
Patrick | 2026-01-29
Altcoins
Crypto Mirrors 2020 as a 2021-Style Rally Looms
Ana | 2026-01-28
Bitcoin
Bitcoin’s Four-Year Cycle Is “Dead,” Claims the World’s Smartest Man
Ana | 2026-01-28
Altcoins
Grayscale Tweaks XRP Trust Filing as Spot ETF Momentum Heats Up
Ana | 2026-01-29