Asia-Pacific Consumers Eye Stablecoins for Everyday Use Within Five Years

Nearly half of consumers in the Asia-Pacific region are open to using stablecoins for everyday transactions within the next five years, according to a study by Visa. The report, based on a survey of 14,250 consumers aged 18 to 65 across 14 markets, including the Philippines, found that 46% of respondents are likely to use stablecoins in the near future, compared to just 16% who have used them in the past year.

Nischint Sanghavi, head of Digital Currencies for Asia-Pacific at Visa, noted a significant shift in consumer attitudes toward stablecoins. Consumers are increasingly seeing stablecoins as a viable option for online purchases, travel, and cross-border transfers. However, the study also revealed a gap between emerging use cases and consumer understanding, with only 49% of aware consumers believing stablecoins can be used for purposes beyond crypto trading.

Awareness of stablecoins varies across the region, with Hong Kong (84%), India (80%), and Thailand (77%) showing the highest levels. Meanwhile, Vietnam and India lead in intent to use stablecoins, with 67% of respondents in each country expressing interest. Despite awareness, only 6% of consumers demonstrate an accurate understanding of how stablecoins work, with 41% mistakenly believing they always increase in value.

Concerns about fraud or scams (38%) and a lack of understanding (36%) are the primary barriers to adoption. Consumers show a strong preference for regulated institutions, trusting government or central bank-linked entities (27%) and banks or regulated financial institutions (26%) the most. Visa is working with partners to integrate stablecoin capabilities with familiar payment experiences, emphasizing security, compliance, and usability.