Uber to Start Accepting Crypto Payments ‘At Some Point’, CEO Dara Khosrowshahi Says

Uber CEO Dara Khosrowshahi is also waiting to see the crypto market mature and grow out of its current volatile phase.

By Radhika Parashar | Updated: 14 February 2022 14:37 IST

Uber to Start Accepting Crypto Payments ‘At Some Point’, CEO Dara Khosrowshahi Says

Photo Credit: Reuters

Dara Khosrowshahi became the CEO of Uber in 2017

Highlights

Uber CEO takes a pro-crypto approach
Environmental concerns related to crypto cause of worry
Uber is waiting for crypto market to mature

Uber, the US-based ride hailing major, will be integrating crypto payments option on its app “at some point.” CEO Dara Khosrowshahi spilled beans on the future plans of the company during a recent interview. The cab-booking platform claims to be used across 890 cities in over 70 countries. As of now, it has not set foot in the crypto sector but its future plans align with several other big tech companies like Microsoft and Tesla, among others.

Khosrowshahi called crypto assets like Bitcoin quite valuable as a store of value during an interview with Bloomberg.

“I think you will see us lean into crypto a little bit more,” the 52-year-old multi-millionaire said. “If you say, is Uber going to accept crypto sometime in the future? Absolutely, at some point.”

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Environmental concerns linked to crypto mining as well as the overall Internet- and power-consuming sector is one of the main reasons keeping Uber away from stepping into the arena.

In addition, Khosrowshahi is also waiting to see the crypto market mature and grow out of its current volatile phase.

Uber is not the only company that is eyeing the crypto sector at the time.

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Crypto payments have become a thing in the US with several brands beginning to accept cryptocurrencies for payments including Elon Musk's Tesla, Mark Cuban's Dallas Mavericks NBA team, and movie hall chain AMC Theatres, among other brands.

Crypto salaries are also becoming a trend among politicians like New York City Mayor Eric Adams, Miami Mayor Francis Suarez, as well as Christophe De Beukelaer from the Belgian capital of Brussels.

In November 2021, Apple CEO Tim Cook said that the iPhone maker has no immediate plans on crypto-integration.

As per CoinMarketCap, the total market capitalisation has also risen to $1.86 trillion (roughly Rs. 1,41,00,900 crore) from $1.72 trillion (roughly Rs. 1,28,63,420 crore) that was recorded on February 4.

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Further reading: Uber, Cryptocurrency, Uber Crypto Payment, Cryptocurrency Payment, Dara Khosrowshahi, Apple, Tesla, Elon Musk

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More