Nearly half of Asia Pacific consumers plan to try stablecoins within five years, Visa study shows
Nearly half of Asia Pacific consumers plan to try stablecoins within five years, Visa study shows #
Forty-six percent of consumers surveyed across Asia Pacific say they expect to use stablecoins within the next five years, up from the 16% who reported using them in the previous 12 months, according to a study released by Visa on Monday.
The Visa Consumer 360 study surveyed 14,250 people aged 18 to 65 across 14 Asia Pacific markets. Respondents identified online purchases, travel spending, and overseas money transfers as the areas where they could most readily see stablecoins fitting into their financial lives. Nearly half also said they believe stablecoins could become a mainstream method for cross-border payments within five years.
Two-thirds of consumers said they have heard of stablecoins, but only 6% said they have a solid grasp of how stablecoins work. Roughly half of those who are aware of them still believe stablecoins can only be used to buy or sell other cryptocurrencies.
Among consumers who are aware of stablecoins but have never used them, 38% cited fears of fraud or scams and 36% pointed to a lack of understanding. When asked which institutions they would trust to issue stablecoins, government or central bank-linked entities ranked first at 27%, followed by traditional banks and regulated financial institutions at 26%.
Vietnam and India recorded the highest intent to adopt, with 67% of respondents in both markets saying they would likely use stablecoins within five years. Stablecoin awareness was highest in Hong Kong at 84%, followed by India at 80% and Thailand at 77%.
Nischint Sanghavi, Visa’s Head of Digital Currencies for Asia Pacific, said the company is working with banks and regulated payment partners to embed stablecoin functionality into existing payment experiences rather than building a parallel system consumers would have to migrate to.
Visa said it plans to continue expanding those partnerships as regulatory frameworks for stablecoins develop in key markets including Singapore, Hong Kong, and India.
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