Uber Technologies Inc. is actively exploring the use of dollar-pegged stablecoins as a means to achieve faster cross-border payments and reduce foreign exchange (FX) costs across its global operations, CEO Dara Khosrowshahi stated during the Bloomberg Tech conference on June 5, 2025.
Khosrowshahi highlighted that blockchain-based tokens can offer quicker settlement of payments compared to traditional correspondent banking channels by eliminating layers of FX fees. While the company is still in the study phase and evaluating operational, regulatory, and technical aspects, it emphasized that no crypto assets would be held on Uber’s balance sheet during this process. Any future deployment would comply with existing consumer protection regulations.
Additionally, the CEO reaffirmed Bitcoin's status as a "proven store of value" and mentioned that Uber plans to add Bitcoin and other cryptocurrencies as payment options for rides and deliveries once regulatory clarity is achieved and technical challenges are addressed. This initiative aims to extend greater payment flexibility to Uber riders and couriers, similar to acceptance of credit cards, PayPal, Venmo, and Apple Pay, without the company exposing itself to crypto price volatility.
Reports also indicate Uber is investigating the development of a dedicated crypto wallet integrated into its app and consulting with external experts on compliance and transaction security.
On the regulatory front, the U.S. Senate is reviewing the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which seeks to provide clear oversight over stablecoin issuers. While there is bipartisan support expected, unresolved amendments related to credit card fees, anti-money laundering, foreign ownership restrictions, and government officials’ stablecoin disclosures may delay final passage. The bill’s outcome will significantly impact companies like Uber planning to integrate stablecoins and crypto payments.