What to know:
- Uber’s boss, Dara Khosrowshahi, has now casually dropped the idea that his company might dabble in stablecoins—because what’s more fun than guessing which way a giant tech firm will jump next?
- He argues they’re handy little things for crossing borders and shrugging at exchange rates, which sounds almost reasonable unless you’re a rider waiting for your fare to *really* be in sync.
- True to form, Uber has flirted with crypto ambitions for a while—this is their third romantic interest since 2021—yet somehow, payment options still remain more elusive than Bigfoot on a good day.
In the latest episode of “Will They, Won’t They,” Uber CEO Dara Khosrowshahi announced at some fancy tech conference in San Francisco that they’re “studying” stablecoins—those supposedly steady Mr. Nice Guys of the crypto world—because nothing says “cutting-edge innovation” like cautiously tiptoeing into the digital monetary pond.
“Stablecoins have practical perks for international companies moving money around the globe,” Khosrowshahi said, possibly after a cup of very strong coffee. And yes, this is the third time they’ve mentioned crypto in recent memory, making it almost a tradition—kind of like their annual pilgrimage to the cryptosphere, but with less certainty than ever.
Back in 2019, Uber jumped onto the Diem (formerly Libra) bandwagon, lending its weight to Meta’s now mostly-forgotten stablecoin project that aimed to change how the world pays—until it didn’t. But who’s counting? Certainly not Uber.
“Bitcoin? It’s a proven commodity,” Khosrowshahi admitted—probably five seconds before the market turned as volatile as a toddler on espresso. “But stablecoins look promising, especially for companies like us that run on international time—sort of like crossing your fingers and hoping the tech gods are feeling generous.”
He also kindly reminded us all that in 2021 he was open to accepting Bitcoin—emphasis on “was”—but figured it might not be worth risking the company’s cash stash. Fast forward to February 2022, and he’s still pondering cryptocurrencies, waiting perhaps for a sign from the crypto gods or an environmentally friendly miracle. “Conversations are ongoing,” he said, before the market promptly took a nosedive, proving yet again that crypto is not for the faint-hearted or those with a fragile ego.
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