Many popular companies are beginning to voice out their stance about cryptocurrencies, probably due to Tesla’s move to Bitcoin (BTC). On February 11, Dara Khosrowshahi, CEO of one of the largest rail-hailing and food delivery companies, Uber, disclosed that they might start accepting payments in digital currencies.
However, the company is not planning to allocate its cash reserve to the leading cryptocurrency, as the electric car marker did.
Uber may Accept Crypto Payment
Khosrowshahi made this known while speaking with CNBC on Thursday. According to him, the rail-hailing giant can accept payment in digital currencies. However, they must have to be convinced of the need for accepting such payments and the benefits associated with digital currencies.
“Just like we accept all kinds of the local currency, we are going to look at cryptocurrency and or bitcoin in terms of currency to transact. That’s good for business, that’s good for our riders and our eaters. We are just not going to do it as part of a promotion,” Khosrowshahi said.
That aside, Uber isn’t looking to exceed this level with cryptocurrencies, especially when it comes to investing in cryptocurrency. The CEO stated clearly that the company doesn’t consider adding Bitcoin to their balance sheets.
“We’re not in the speculation business”
Khosrowshahi sees Bitcoin and cryptocurrency investments as being speculative. Hence, they prefer keeping their cash reserve safe. “It was a conversation that happened that has been quickly dismissed. We’re going to keep our cash safe. We’re not in the speculation business,” Khosrowshahi precisely said.
Meanwhile, it’s worth mentioning that Uber is one of the members of the Facebook-planned stablecoin project, which was recently rebranded from Libra to Diem. Also, Uber won’t be the first as a food delivery platform to accept payments in cryptocurrencies. Just Eat, which purchased the Australian food ordering company, Menulog, already support payments in crypto.