Uber & Stablecoins: Cross-Border Payments
Uber is actively exploring the integration of stablecoins for its international money transfers,a move that could revolutionize cross-border payments by slashing costs and accelerating settlement times.This strategy, highlighted by uber CEO Dara khosrowshahi, reflects a broader industry trend where businesses are turning to cryptocurrencies like stablecoins to address inefficiencies in traditional financial systems. The potential benefits include quicker transactions and reduced fees, addressing pain points that frequently enough plague international money movement. News Directory 3 reports on how, like Uber, companies such as Meta are also testing stablecoins for cross-border transactions, seeking to streamline processes and cut expenses. Discover what’s next as these innovative payment solutions reshape global finance.
Uber Eyes Stablecoins for International Money transfers
updated June 6, 2025
uber Technologies is weighing the use of stablecoins to facilitate international money transfers, potentially reducing costs associated with cross-border transactions. CEO Dara Khosrowshahi told Bloomberg at the Bloomberg Tech conference in San Francisco that the company is exploring the technology.
Stablecoins could offer a solution to issues such as settlement times and dollar access, which ofen complicate traditional cross-border payments. These transfers can take up to five business days and involve multiple banks, each charging fees. Stablecoins, however, enable faster global money movement, potentially cutting settlement costs considerably.
Other companies are also exploring stablecoins. Meta is reportedly considering using stablecoins for cross-border payments, aiming to reduce fees associated with traditional methods. Possible applications include making smaller payments to creators in different regions.
“That’s super captivating to us and we’re definitely going to take a look,” Khosrowshahi said.
Banks and FinTech firms are also recognizing the potential of stablecoins in cross-border payments. Circle Internet Financial, a stablecoin issuer, recently debuted on the New York stock Exchange, with its shares tripling in price.
“Our transformation into being a public company is a significant and powerful milestone — the world is ready to start upgrading and moving to the internet financial system,” said Jeremy Allaire, Circle co-founder and CEO, in a post on X.
Circle launched its Circle Payments Network (CPN) in May, designed to support mainstream cross-border payments using stablecoins.
What’s next
Uber’s potential adoption of stablecoins could signal a broader shift toward cryptocurrency in international finance, as companies seek more efficient and cost-effective methods for global money transfers.