Visa Survey Reveals Low Stablecoin Understanding in Asia Pacific Despite Growing Interest

A recent Visa survey reveals that while awareness of stablecoins is growing in the Asia Pacific region, understanding of how they work remains low. The Visa Consumer 360 study, which polled 14,250 consumers across 14 markets between June and July, found that 66% of respondents were aware of stablecoins, but only 6% demonstrated an accurate understanding of their functionality.

Despite the knowledge gap, 46% of respondents said they were likely to use stablecoins within the next five years. Additionally, 49% believed stablecoins could become a common way to move money across borders within the same period. Awareness was highest in Hong Kong at 84%, followed by India at 80% and Thailand at 77%. Vietnam and India recorded the strongest intent to use stablecoins, both at 67%.

The survey also highlighted common misconceptions about stablecoins. Forty-one percent of respondents believed stablecoins always increase in value, and 49% thought they could only be used to buy and sell other cryptocurrencies. Among those aware of stablecoins but had never used them, 38% cited concerns about fraud or scams, and 36% pointed to a lack of understanding.

Nischint Sanghavi, head of digital currencies for Asia Pacific at Visa, emphasized the need for stablecoins to feel like a natural part of existing payment systems. Visa has a vested interest in this conclusion, having launched the Visa Stablecoin Platform in July, a beta service that allows banks, fintechs, and payment providers to mint, move, and manage stablecoins, starting with Open USD.