Uber, a big company that provides ride-sharing services, is looking into using stablecoins to make sending money around the world easier and cheaper. The boss of Uber, Dara Khosrowshahi, spoke about this at a tech event in San Francisco on June 5. He said Uber is still studying how stablecoins work.
He stated that stablecoins are like digital dollars; the firm is tied to regular money, like the US dollar, and doesn’t change value much because it is backed by real cash or safe investments. Khosrowshahi thinks stablecoins could help Uber save money when paying people or moving cash between countries.
As per the reports, Khosrowshahi said that stablecoins are different from Bitcoin, which some people argue about, because stablecoins have a steady value and could be useful for a global company like Uber. The ridesharing giant is not alone in its interest. Stablecoins are gaining traction across industries, with 90% of institutional players surveyed.
Payment giant Stripe has also held early talks with banks about stablecoin integration, as noted by co-founder John Collison in a May interview. Globally, interest is surging. In April, a Russian finance ministry official proposed a government-backed stablecoin, while three major Abu Dhabi institutions collaborated on a dirham-pegged stablecoin.
In April of this year, the market cap of US dollar-denominated stablecoins reached $230 billion. This highlighted that the market cap of stablecoins has increased by 54% from last year, with Tether (USDT) and USDC holding a 90% share. The amount of money moved using stablecoins has increased a lot. In the year 2024, the amount had reached $27.6 trillion. These digits highlight that stablecoin has beaten the combined transactions of Visa and Mastercard, which is 7.7%.
Additionally, between January 2023 and February 2025, $94.2 billion in stablecoin transactions were done. Uber’s interest in using stablecoins highlights the biggest upcoming trend, where companies are looking for faster and cheaper ways to send money around the world.
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