Visa Study Highlights Growing Stablecoin Interest in Asia Pacific

A new Visa study suggests that stablecoins are gaining traction among consumers in the Asia Pacific (APAC) region, though widespread adoption remains a challenge. The survey found that nearly half of the respondents are likely to use stablecoins for everyday transactions within the next five years, while only 16% had used them in the past year. Joel Hugentobler, Cryptocurrency Analyst at Javelin Strategy & Research, noted that while interest is growing, consumers still need a clear reason to use stablecoins beyond just understanding the technology.

The study identified several barriers to broader adoption, including misconceptions about how stablecoins work. For instance, 41% of respondents believed that stablecoins always increase in value, and many thought they could only be used to trade other cryptocurrencies. Security concerns also played a role, with over a third of aware but non-using respondents citing fears of fraud or scams as a reason for avoiding stablecoins.

Despite these challenges, consumers expressed openness to using stablecoins for everyday purchases, particularly in areas like e-commerce, travel, and cross-border payments. Cross-border transactions, in particular, could benefit from stablecoins by reducing delays, fees, and currency conversion complexities. However, Hugentobler emphasized that financial institutions must simplify the user experience to drive meaningful adoption, making stablecoins accessible through familiar payment services.