Stablecoin Adoption Could Surge with Bank-Level Protections: Visa Survey

A recent survey by Visa suggests that stablecoin adoption among US users could surge with bank-like protections and insurance. The survey, which polled 2,192 US-based customers between February and March, found that nearly two-thirds of respondents said trust depends more on who offers a payment method than the tech itself.

The study showed that 'adoption intention' of stablecoins among US users could climb from 36% to 56% in a hypothetical scenario with bank-level fraud protection and deposit insurance. This is significant because US dollar-pegged tokens like USDC and USDT continue to lead stablecoins, with a combined market capitalization of about $260 billion.

The survey's findings are particularly relevant given the proposed GENIUS Act, which aims to provide guidelines for US stablecoin issuers. While the bill does not include FDIC insurance or explicit fraud protection, it is expected to address illicit activities.