Uber will accept cryptocurrencies ‘at some point’ in future


Uber CEO Dara Khosrowshahi enlightened the media about the prospects to introduce a crypto payment feature in the Uber app. Uber Technologies Inc. is considering moving further with its payment processes. It is likely to implement crypto payments’ ‘at some point’ in the future.

Although, Dara doesn’t consider the present scenario suitable to enforce the crypto payment structure and said, “This isn’t the right time”. Also, Khosrowshahi observes costs of exchanges, high transaction fees, and environmental impact of crypto mining as existing problems against the ecosystem.

Only when the complete process becomes environment friendly, the exchange mechanism becomes less expensive, the riding company can then ponder the right moment for improvisation.

“We’re having conversations all the time,” said Dara in the Bloomberg TV interview. “As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.”

Moreover, the discussions roll around the best possibilities Uber can cultivate from crypto payments. Also, Uber Technologies Inc. will one day march along with Microsoft Corp. by welcoming Bitcoin as a payment option on its app.

Also, read - Russian Government to regulate Crypto Laws very soon

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