Uber is exploring stablecoins as a way to reduce international payment expenses, according to CEO Dara Khosrowshahi.
Speaking at the Bloomberg Tech Summit, he said the company is in the early research phase but sees stablecoins as a practical use of crypto with real-world benefits.
Khosrowshahi highlighted stablecoins’ potential to streamline cross-border transactions, calling them “promising” for global businesses. These dollar-pegged digital assets are designed to maintain price stability and reduce transfer fees.
Corporate and government interest in stablecoins is growing. Stripe has begun discussions with banks, and a Fireblocks report found 90% of institutions are assessing stablecoin use. Meanwhile, countries like Russia and the UAE are exploring state-backed versions.
According to Citigroup, the stablecoin market cap hit $230 billion in April, with annual transaction volumes surpassing $27 trillion—outpacing Visa and Mastercard. Uber’s interest reflects a broader shift toward blockchain-based tools for financial efficiency.
Goldman Sachs and BNY are set to unveil a groundbreaking blockchain initiative that will allow institutional investors to purchase tokenized shares of money market funds, according to CNBC.
Polymarket, the fast-growing crypto prediction market, is exploring the launch of its own stablecoin to capitalize on the yield generated from reserves backing USDC deposits.
PNC Financial Services Group has teamed up with Coinbase, enabling select customers to buy and sell cryptocurrencies directly from their PNC accounts.
Telegram has officially rolled out its TON Wallet to users in the United States, marking a major step forward in the integration of blockchain and messaging.