Key Highlights
- 46% of Asia Pacific consumers say they are likely to use stablecoins within the next five years, compared with 16% who used them in the past year.
- 49% believe stablecoins could become common for cross-border payments, but only 6% of consumers accurately understand how they work.
- Trust remains a major barrier, with 38% of non-users concerned about fraud or scams and 36% saying they lack enough understanding.
Visa found that 46% of consumers across Asia Pacific are likely to use stablecoins within the next five years, highlighting interest in using them for everyday payments and money transfers.
The survey examined consumers’ awareness and understanding of stablecoins, potential use cases and the barriers preventing wider adoption.
The finding is notable because actual stablecoin use remains much lower. According to the survey, only 16% of consumers said they had used stablecoins in the past 12 months.
However, many respondents said they could see a use for them beyond buying and selling cryptocurrencies. Online shopping, travel spending and overseas purchases were among the areas attracting interest.
Stablecoins could move beyond crypto trading
Cross-border payments also stood out in the survey. About 49% of consumers believe stablecoins could become a common way to move money across countries within the next five years. That could include sending money abroad, receiving payments from another country or making purchases while travelling.
But there is a clear gap between interest and understanding. Visa found that 66% of consumers in Asia Pacific are aware of stablecoins, yet only 6% showed an accurate understanding of how they work. Almost half, or 49%, of those who are aware of stablecoins still believe they can only be used to buy or sell other cryptocurrencies.
Another 41% believe stablecoins always increase in value. This shows that knowing about stablecoins does not always mean knowing what they actually do.
Awareness is high but understanding is low
Awareness also differs across the region. Hong Kong recorded the highest level of awareness at 84%, followed by India at 80% and Thailand at 77%. When it comes to future use, Vietnam and India recorded the strongest intent, with 67% of consumers in each market saying they are likely to use stablecoins within five years.
Trust is another issue. Among consumers who know about stablecoins but have never used them, 38% said they were concerned about fraud or scams. Another 36% said they did not understand stablecoins well enough.
Consumers also expressed a preference for regulated institutions when choosing stablecoin providers. Government or central bank-linked entities ranked first at 27%, while banks and other regulated financial institutions followed at 26%.
“We’re seeing a meaningful shift in how consumers across Asia Pacific think about stablecoins,” said Nischint Sanghavi, Head of Digital Currencies, Asia Pacific at Visa. He said consumers are starting to see how stablecoins could support things they already do, including online purchases, travel and moving money across borders.
Visa said it is working with banks, regulated financial institutions and payment partners to connect stablecoins with payment methods consumers already know. Its Visa Stablecoin Platform also allows clients to mint, move and manage stablecoins.
Visa expands stablecoin strategy
The new survey comes as Visa continues to expand its stablecoin business. In September, the company said more than 160 stablecoin-linked card programs were live worldwide during its fiscal second quarter. Payment volume on those programs had risen nearly 200% from a year earlier.
Visa also said stablecoin settlement volume had passed a $20 billion annualized run rate, more than 15 times the level recorded a year earlier. Settlement refers to the process of completing a payment between the parties involved.
The company had already laid out a wider stablecoin strategy during its July 28 fiscal third-quarter earnings call.
Visa reported $11.6 billion in net revenue for the quarter, while payments volume crossed $4 trillion for the first time. Cross-border volume also rose 13%.
For Visa, the latest consumer findings show that stablecoins are attracting attention beyond the crypto market. The challenge now is that many people remain unsure about how they work and whether they can trust them. That leaves a large gap between people saying they may use stablecoins and actually using them in their daily lives.
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