Uber is eyeing stablecoins: it's a proven product

Uber is exploring stablecoins to revolutionize international payments, reducing costs and accelerating global transactions efficiently.

Uber, under the leadership of CEO Dara Khosrowshahi, is evaluating just that possibility by exploring the use of stablecoins within its platform. These stable digital currencies, designed to maintain a constant value and facilitate international transactions, could radically transform the way Uber and other multinationals manage global payments. Khosrowshahi emphasizes that, in addition to avoiding the volatility characteristic of traditional cryptocurrencies, stablecoins offer practical advantages for optimizing transfer costs and speed.

Uber and the growing interest of multinationals in blockchain and stablecoins

Khosrowshahi's comment, broadcast at the Bloomberg Tech Conference, reflects a trend that goes far beyond Uber. Major multinationals in sectors such as mobility, logistics, and delivery services are evaluating blockchain integration to optimize their global operations. The reason is clear: The traditional financial system involves multiple intermediaries, long and costly processes to move money across borders, affecting both companies and end customers.

Blockchain, with its promise of decentralization, transparency, and speed, is attracting increasing interest. Stablecoins, as digital assets pegged to fiat currencies, allow us to take advantage of the benefits of blockchain without sacrificing economic stability. This makes them an ideal tool for international payments, remittances, and instant settlements.

For companies with a global reach like Uber, where the constant flow of payments must be efficient, secure, and cost-effective, adopting stablecoins could radically change their financial structure. Not only would it reduce the fees associated with international bank transfers, but it would also accelerate the process, improving the experience for both users and drivers.

Practical benefits of using stablecoins in international transactions

On the other hand, Khosrowshahi highlights that stablecoins provide practical benefits that go beyond the historical uses of cryptocurrencies, traditionally focused on investment or speculation.The main advantage he highlights is the reduction in the cost and complexity of moving money across borders.

A concrete example helps explain this. Let's suppose a person in Spain wants to send money to a relative in Argentina, a country with strict exchange controls and high bank fees. Using stablecoins, the transfer can be completed in minutes, with minimal fees and without relying on intermediaries who increase the cost and time. Furthermore, the stability of the value prevents the recipient from receiving less money due to sudden exchange rate fluctuations.

This same principle is replicated in Uber's business operations. The company supports payments to thousands of drivers and delivery people in dozens of countries. Using stablecoins could significantly simplify and reduce the cost of these payments, while maintaining trust and transparency through blockchain technology. Impact on mobility and delivery services

A new way to make payments

It's important to note here that the mobility and delivery services sector is particularly sensitive to innovations in international payments. The need to quickly settle drivers' or delivery personnel's earnings in different currencies is a constant challenge. The incorporation of stablecoins can be the catalyst that accelerates digitalization and efficiency in this area.

For example, a delivery driver in France who fulfills orders for a platform with global reach could receive payment within minutes, regardless of the country where the customer is registered or the transaction is initiated. This not only improves the personal liquidity of those working on the platform, but also allows the company to maintain more precise and fluid financial control.

Furthermore, by eliminating many intermediaries, transparency increases and the risks of fraud or losses associated with transfers decrease. Trust between companies, employees, and customers is strengthened, laying the foundation for a fairer digital financial ecosystem.

The future of digital payments in global companies

Uber's interest in stablecoins is representative of a broader wave sweeping the tech and financial sectors. As more multinationals discover the potential of digital assets to optimize their operations, we're likely to see a significant increase in adoption.

The goal is clear: to eliminate the friction inherent in traditional international transactions, which involve high costs and long turnaround times. Through stablecoins and blockchain technology, global companies can achieve a level of efficiency, transparency, and speed never before seen.

Ultimately, this transition will not only benefit large corporations, but can transform the experience of millions of workers and consumers around the world, facilitating payments, remittances, and services with digital agility that connects countries and economies.

Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.