The CEO of Uber said the ride-hailing app will ‘absolutely’ accept crypto at some point
Uber CEO Dara Khosrowshahi.
Riccardo Savi/Getty Images for Concordia Summit
Uber CEO Dara Khosrowshahi is not closing the door on accepting crypto as payment for his firm. “Is Uber going to accept crypto in the future? Absolutely. At some point,” he told Bloomberg. The executive said he and his team are constantly discussing the possibility, though some factors are holding them back. Uber CEO Dara Khosrowshahi is not closing the door on accepting cryptocurrency as payment for his ride-hailing firm. “Is Uber going to accept crypto in the future? Absolutely. At some point,” he told Bloomberg. “This isn’t the right point.” Khosrowshahi, who took the helm of the company in 2017, said he and his team are constantly discussing this possibility, although some factors are holding them back. Among those is the high transactions costs that trading digital assets entail as well as the negative environmental impacts associated with crypto mining. “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,” he told Bloomberg. Meanwhile, other mega-cap tech firms such as Tesla have considered expanding payment mechanisms to include digital assets. Proponents of crypto have long pushed for bitcoin and other tokens to be treated as a form of payment, though critics have cited their price volatility, among others, as reasons against doing so. Read the original article on Business Insider