B4Bit

06/06 19:03

Uber Is Looking Into Stablecoins to Speed Up

Uber Is Looking Into Stablecoins to Speed Up Global Transfers: CEO

Uber reveals its interest in stablecoins, recognizing their potential for faster and cheaper cross-border transactions. Will this be a game-changer?

Highlights :-

Uber explores the potential of stablecoins for faster global transfers.

The CEO prefers stablecoins over Bitcoin.

Companies embrace stablecoins despite the lack of clear regulations.

As stablecoins gain increasing traction, global mobility platform Uber is exploring their potential to facilitate faster and cheaper cross-border transactions. At the Bloomberg Tech Summit in San Francisco, CEO Dara Khosrowshahi identified stablecoins as a game-changer for global companies, expressing a preference for them over Bitcoin. Are stable tokens really a game-changer?

Uber to Embrace Stablecoins, Says CEO Khosrowshahi :-

On June 5, Uber CEO Dara Khosrowshahi revealed the ride-sharing giant’s decision to embrace stablecoins for faster and cheaper global money transfers. Khosrowshahi stated,

“We’re still in the study phase, I’d say, but stablecoin is one of the, for me, more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value. So that’s super interesting to us, and we’re definitely going to take a look.”

Notably, stablecoins are crypto assets designed to maintain a “stable” value compared to highly volatile cryptocurrencies like Bitcoin. Backed by stable assets like fiat currencies or gold, these tokens are gaining popularity as a hedge against market fluctuations. For the Uber CEO, stable tokens are “quite promising, especially for global companies that are moving money around globally to create a mechanism for us to essentially reduce costs in terms of moving money internationally.”

As he prefers stable tokens over Bitcoin, the CEO noted, “Obviously, you can have your opinions on Bitcoin, but it’s a proven commodity, and you know, people have different opinions on where it’s going.”

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