Uber is the latest company to signal its willingness to accept cryptocurrencies as payment, but not until some major changes take place.
Companies across multiple industries have begun accepting crypto as payment. Tesla was one of the biggest companies to accept crypto before backtracking over environmental concerns. That view has been echoed by other organizations, such as Mozilla, which have stopped accepting crypto over the same issues.
According to Bloomberg, Uber CEO Dara Khosrowshahi said his company would also like to accept crypto “at some point,” before saying “this isn’t the right point.”
Uber is waiting until crypto transaction fees are lower, reducing its environmental impact.
“We’re having conversations all the time,” Khosrowshahi said. “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.”
Khosrowshahi’s statement is just the latest indication of the challenges crypto faces before it gains widespread adoption.