Asia Pacific Consumers Warm to Stablecoins Despite Trust and Knowledge Gaps

Visa's recent survey reveals growing interest in stablecoins among Asia Pacific consumers, though knowledge gaps and trust issues may slow adoption. The research shows 46% of respondents expect to use stablecoins within five years, up from just 16% who have used them in the past year. Applications range from online shopping and travel to international money transfers, suggesting potential beyond crypto trading.

Awareness of stablecoins is high, with 66% of respondents having heard of them, but understanding remains low. Only 6% could accurately explain how they work, and 41% mistakenly believe their value always rises. Hong Kong leads in awareness at 84%, followed by India at 80% and Thailand at 77%. Vietnam and India also show the strongest intent to use stablecoins in the next five years, both at 67%.

Trust remains a major barrier, with 38% of aware but non-using consumers citing fraud concerns and 36% lacking sufficient understanding. Respondents prefer regulated providers, trusting government-linked bodies (27%) and banks or financial institutions (26%) the most. Visa is working to integrate stablecoin functionality with existing payment methods through its Visa Stablecoin Platform, aiming to enhance security, compliance, and usability.

Nischint Sanghavi, Visa's head of digital currencies for Asia Pacific, emphasizes the shift in consumer perception. 'Consumers are beginning to see how stablecoins could support the ways they already spend and move money,' he says, stressing the need for stablecoins to feel like a natural part of trusted payment systems.