Key Takeaways:
- Uber is in the early stages of exploring stablecoins to cut international money transfer costs, according to CEO Dara Khosrowshahi.
- Stablecoins are gaining traction among global businesses and institutions, with transaction volumes surpassing Visa and Mastercard combined in 2024.
- The stablecoin market cap exceeded $230 billion in April, driven largely by USDT and USDC dominance.
Uber is currently exploring the use of stablecoins to reduce international money transfer costs, according to CEO Dara Khosrowshahi.
Speaking at a tech summit in San Francisco on June 5, he stated the company is in a “study phase”, calling stablecoins one of the more “practical” crypto innovations.
JUST IN: 🚗 @Uber CEO Dara Khosrowshahi explained that while people may have differing views on bitcoin (BTC), it has become a “proven commodity,” and stablecoins offer real utility for companies operating across multiple countries. pic.twitter.com/1kwK1K4yUv
— Bitcoin.com News (@BTCTN) June 5, 2025
Khosrowshahi believes stablecoins are especially promising for global businesses like Uber, offering a way to cut cross-border payment expenses.
Stablecoins, digital assets backed by fiat reserves like the U.S. dollar, are gaining traction across industries.
Beyond Uber, payment companies and financial institutions are actively looking into their adoption.
A recent survey found that 90% of institutions are exploring stablecoin applications. Governments are also stepping in – Russia and Abu Dhabi have announced plans for state-backed stablecoins.
The market is experiencing rapid growth.
As of April 2025, the total stablecoin market cap exceeded $230 billion, led by Tether (USDT) and USD Coin (USDC).
In 2024, stablecoin transaction volumes reached $27.6 trillion, surpassing Visa and Mastercard combined by 7.7%.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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