Visa Study Reveals Strong Stablecoin Interest in Asia Pacific

Visa's latest research reveals a growing interest in stablecoins among consumers in the Asia Pacific region. The survey, which included 14,250 participants across 14 markets, found that nearly half (46%) of consumers are likely to use stablecoins within the next five years, while only 16% have used them in the past year. The study highlights potential applications beyond crypto trading, such as everyday spending, travel, and cross-border money transfers.

Despite the rising interest, significant barriers remain. Nearly half of the consumers aware of stablecoins still believe they can only be used to buy and sell other cryptocurrencies. Misconceptions about stablecoins are widespread, with 41% thinking they always increase in value. Trust issues also play a role, as 38% of aware but non-using consumers cite concerns about fraud or scams, and 36% point to a lack of understanding.

The study identified Hong Kong (84%), India (80%), and Thailand (77%) as the markets with the highest awareness of stablecoins, while Vietnam (67%) and India (67%) showed the strongest intent to use them in the next five years. Visa is working with banks and regulated financial institutions to integrate stablecoin capabilities into familiar payment experiences, aiming to make them more accessible and secure.

Nischint Sanghavi, Head of Digital Currencies at Visa Asia Pacific, emphasized the need to connect stablecoin technology with trusted payment systems. 'Consumers want stablecoins to feel like a natural part of the payments they already trust, not a separate system,' he said. Visa's efforts include the Visa Stablecoin Platform, which helps clients mint, move, and manage stablecoins securely.