In a recent interview, Uber CEO Dara Khosrowshahi claimed that his company is considering accepting Stablecoins as a payment option. He appears to be interested only in this area and rejects claims to invest in Bitcoin.
However, this is not the first time that Khosrowshahi has claimed that Uber could accept crypto payments in the near future. He is very uncommitted in his statement, and there is no official roadmap or timeline yet.
Can Uber accept Stablecoins?
A popular ride-sharing app, Uber has repeatedly shown interest in blockchain technology and the Web3 industry. The company tried to deploy digital money a few years ago, but none of its efforts have been stuck.
However, according to today’s interview, Uber’s CEO is still interested in such a plan and praises the benefits of Stablecoins.
“We are still in the research phase, but I think Stablecoins is one of the more interesting instantiations of cryptocurrencies that provide practical benefits besides cryptocurrencies as valuable reservoirs. Stubcoins are extremely promising to create mechanisms to reduce costs, especially for global companies that are driving money globally,” Khosrowshahi argued in an interview.
To be clear, Khosrowshahi said that Uber’s interest is almost entirely in Stablecoins. He referenced recent trends in the company’s Bitcoin acquisition, but does not appear to approve this strategy.
After all, the company is doing well this year, and by pivoting to Bitcoin, it can transform the entire business model of the company. In contrast, Stablecoins offers Uber a specific usage scenario, as the company has a global client base.
Still, this is not the first time Khosrowshahi has planned to accept crypto payments. In 2022, he claimed that Uber would provide the service in the near future, but that never happened.
Nevertheless, Uber’s stock valuation surged temporarily after an interview with Stablecoin. These profits have receved primarily due to after-hours trading.
In other words, Uber has made no solid commitment regarding this Stablecoin plan. Hopefully, this tech giant will join the trends in Web3 and provide everyday utility to the booming Stablecoin market.
However, without a stronger commitment, there is no clear reason to believe that Uber will implement such a plan.
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