The ride-sharing giant Uber is currently in the "research phase" of using stablecoins to reduce global fund transfer costs, said Uber CEO Dara Khosrowshahi.
Dara stated at the Bloomberg Technology Summit held in San Francisco on June 5 that the company "will absolutely consider" using stablecoins.
Dara mentioned at the conference, "We are still in the research phase, but for me, stablecoins are a more interesting instance of cryptocurrency, as they have practical uses beyond just being a store of value."
He added, "Clearly, you can have your own views on Bitcoin (BTC), but it is a proven commodity, and people have different opinions on its future direction."
Stablecoins are cryptocurrencies designed to reflect the value of traditional currencies, most commonly the US dollar. They are typically backed by reserves of cash and short-term government bonds.
Dara stated that stablecoins are "very interesting" to them, primarily as a payment tool for transferring funds.
He said, "I think stablecoins are very promising, especially for international companies transferring funds globally, as they provide us with a mechanism to effectively reduce the costs of international fund transfers."
Other companies, including banks, are also showing increasing interest in using stablecoins in some form.
In May, Stripe co-founder and president John Collison mentioned in an interview with Bloomberg that his company had preliminary discussions with banks about potential integration of stablecoins.
Meanwhile, a report from enterprise-grade digital asset platform Fireblocks on May 14 found that 90% of surveyed institutional participants are exploring the use of stablecoins in their operations.
Countries are also showing interest in stablecoins. A Russian finance ministry official proposed a plan in April for the government to develop its own stablecoin, while three major institutions in Abu Dhabi jointly created a new dirham-pegged stablecoin in the same month.
A report from investment banking giant Citigroup found that the market capitalization of dollar-pegged stablecoins surpassed $230 billion in April, growing 54% since last year, with Tether (USDT) and USDC accounting for 90% of the market share.
In 2024, the total trading volume of stablecoins reached $27.6 trillion, exceeding the combined total of Visa and Mastercard, with a growth rate of 7.7%. Meanwhile, according to Artemis data, the settlement amount of stablecoin transactions reached $94.2 billion from January 2023 to February 2025.
Related: USDC issuer Circle goes public on the New York Stock Exchange
Original text: “Uber CEO says the company is in the 'research phase' of using stablecoins to lower costs”
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