Uber's Leader Expresses Fascination Towards Stablecoins, Considering Them a Possible Move for the Company as Circle Makes Its Debut on the U.S. Stock Exchange
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Hey there, cyber-savvy friend! Today, we're diving into the world of cryptocurrencies, focusing on Uber's potential interest in stablecoins for its international transactions. 🤖💰🌐
During a recent chat at the Bloomberg Tech Summit, Uber's CEO, Dara Khosrowshahi, revealed that the ride-hailing giant is eyeing stablecoins as a practical tool to cut costs on global money transfers.
"We're still in the study phase," said Khosrowshahi, "but I think stablecoin is one of the more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value."
He further explained the potential benefits of stablecoins, especially for companies like Uber that need to transfer large amounts of money across borders.
"I do think that stablecoin is quite promising, especially for global companies moving money around globally to create a mechanism for us to essentially reduce costs in terms of moving money internationally."
Uber's exploration of stablecoins comes after Circle, a significant stablecoin player, went public on Thursday, listing its USDC and Euro Coin (EURC) on the New York Stock Exchange under the ticker CRCL [1][4].
Now let's dive into some juicy details on what stablecoins are exactly, shall we? A stablecoin, unlike your typical cryptocurrency, has its value pegged to other assets—often traditional currencies such as the US dollar—which gave it its name. This stability makes it an attractive option for international transactions, where traditional methods like wire transfers can come with sky-high fees and may take several days to process. 🌐💰⚡️
Want to learn more about the latest happenings in the crypto world? Check out HODLX, brimming with the latest stories, FAQs, and even a space for you to submit your guest posts! 🤝💬🎉
References:[1] https://www.nyse.com/quote/XUSDC:CRCL
[2] https://nomics.com/crypto/price/usdc
[3] https://www.ccn.com/uber-ceo-dara-khosrowshahi-explores-use-cases-for-stablecoins/
[4] https://www.msn.com/en-us/money/news/uber-eyeing-stablecoins-to-cut-international-money-transfer-costs-ceo-says/ar-AASWlnR
[5] https://www.investopedia.com/terms/s/stablecoin.asp
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- In the realm of technology and business, Uber's CEO, Dara Khosrowshahi, has expressed interest in exploring stablecoins as a cost-effective solution for international money transfers, calling them promising for global companies.
- As the crypto world evolves, it's interesting to note that Uber's potential adoption of stablecoins follows Circle's recent move to go public, listing its stablecoins on the New York Stock Exchange.
- Stablecoins, which are cryptocurrencies with value pegged to assets like traditional currencies, are attracting attention due to their potential to offer cheaper and faster international transactions compared to traditional methods like wire transfers.
