U.S. Stablecoin Interest Soars with Bank-Style Protections

According to a recent survey of 2,192 U.S. adults, interest in using stablecoins has risen significantly when bank-style fraud protection and deposit insurance are included. The stated interest in using stablecoins increased from 36% to 56%, showing a notable shift.

The survey found that respondents' trust in digital currencies is largely dependent on the institution providing the service rather than the underlying technology. In fact, 64% of respondents said their trust was more influenced by the institution than the tech itself.

When established financial institutions offered stablecoins, interest reached 45%. This highlights the importance of trusted brands and institutions in gaining confidence in digital assets.

Traditional commercial banks were found to be the most trusted providers of digital currencies, with 61% of respondents expressing trust. Global payment networks followed closely at 60%.

The total supply of dollar-denominated stablecoins has surpassed $295 billion, with notable issuers being Tether's USDT and Circle's USDC. Additionally, Visa's stablecoin settlement activity exceeded a $20 billion annualized run rate as of September.