At the Bloomberg Tech conference held in San Francisco on June 5, Uber Technologies Inc. CEO Dara Khosrowshahi announced that the company is investigating the potential implementation of stablecoins for international money transfers.
Khosrowshahi pointed out that stablecoins—digital assets typically tied to fiat currencies such as the U.S. dollar and supported by reserves—present significant advantages for businesses operating globally, particularly in reducing the costs associated with cross-border transactions.
“That’s super interesting to us, and we’re definitely going to take a look,” he remarked, highlighting the increasing attraction of stablecoins as a quicker and more economical substitute for conventional banking services.
While Khosrowshahi affirmed that Uber has no current plans to incorporate cryptocurrencies like Bitcoin into its balance sheet, he recognized Bitcoin as a “proven store of value,” reflecting its established role in the financial landscape.
BREAKING: $176 BILLION UBER CEO TELLS BLOOMBERG #BITCOIN IS A “PROVEN” STORE OF VALUE AND THAT IT’S EXPLORING ACCEPTING CRYPTO PAYMENTS
BTC IS GOING MAINSTREAM. HIGHER pic.twitter.com/1LBurW53Sk
— The Bitcoin Historian (@pete_rizzo_) June 5, 2025
Khosrowshahi also indicated that Uber is considering the acceptance of Bitcoin and other cryptocurrencies for ride and food delivery payments in the future, provided necessary concerns about transaction fees and environmental impacts can be mitigated.
“Just like we accept all kinds of local currency, we are going to look at cryptocurrency and or Bitcoin in terms of currency to transact. That’s good for business, that’s good for our riders and our eaters,” he stated in previous discussions.
The growing adoption of stablecoins as tools for international payments is attributed to their ability to facilitate faster and more affordable transactions compared to traditional banking systems. For global corporations like Uber, the implementation of stablecoins could significantly enhance the management of international funds. At the time of reporting, Uber’s stock had increased by 1.11%, according to Google Finance.
Stablecoin Regulation Bill Faces Key Decisions
In related news, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is set for Senate debate and may advance as early as this week, benefiting from strong bipartisan backing that could facilitate its movement to the House.
Prominent crypto advocacy organizations, including the Blockchain Association and Crypto Council for Innovation, are urging legislators to prioritize the establishment of clear and focused oversight for stablecoins.
GENIUS Act Wins Industry Praise From Blockchain Association As Crypto Sector Awaits Final Vote
Blockchain Association Interim CEO Sarah Milby celebrates the GENIUS Act’s progress as major win for crypto regulatory clarity.#BlockchainAssociation #GE…https://t.co/qwMn627UH2
— Finance Newso.com (@Finance Newso) May 21, 2025
Support from Democratic lawmakers has rebounded after earlier concerns associated with President Trump’s affiliations in the crypto sector.
However, the bill’s advancement could face delays due to unrelated amendments, such as the proposed “swipe fee” Credit Card Competition Act introduced by Senators Dick Durbin and Roger Marshall.
@ewarren pushes to close a crypto wallet loophole in the GENIUS Act, aiming to block Trump family’s stablecoin and wallet ambitions. #Trump #GeniusActhttps://t.co/tvlrHbhNub
— Finance Newso.com (@Finance Newso) June 4, 2025
Additional proposed amendments include stipulations for disclosure on stablecoin ownership by government officials, limitations on non-U.S. ownership of stablecoin issuers, and revisions to anti-money laundering regulations.
These amendments could hinder the bill’s final passage, potentially delaying a vote until the week of June 9 if consensus is not reached.
The resolution of this legislation will be pivotal for companies like Uber as they look to incorporate stablecoins and cryptocurrency transactions into their business models.
The post BREAKING: Uber Explores Global Stablecoin Transfers as CEO Hails Bitcoin ‘Proven’ Store of Value appeared first on Finance Newso.
