Visa's Consumer 360 study has identified significant growth potential for stablecoins in the Asia Pacific region, with nearly half of surveyed consumers expressing interest in adopting these digital assets within the next five years.
The survey polled over 14,000 consumers aged 18 to 65 across 14 APAC markets, including China, Taiwan, Hong Kong, Japan, India, and Australia. Researchers found that 46% of respondents were likely to use stablecoins within five years, even though only 16% have used them in the past year.
Primary Use Cases
Consumer interest centers on practical payment applications rather than investment or trading. The most common anticipated use cases include online purchases, travel spending, and overseas shopping. Additionally, 49% of consumers aware of stablecoins believe these assets could become commonly used for cross-border payments within five years.
Knowledge and Trust Barriers
Despite the interest, significant obstacles hinder broader adoption. The survey revealed widespread misconceptions about stablecoins, with only 6% of consumers understanding how these digital assets work. Among those misconceptions, 41% of consumers incorrectly believe stablecoins increase in value.
Fear of scams and lack of understanding are the primary factors preventing adoption, cited by 38% and 36% of aware but non-using consumers respectively. Central bank-linked entities and regulated financial institutions rank as the most trusted potential providers of stablecoin services.
Visa's Strategy
Nischint Sanghavi, Head of Digital Currencies at Visa for Asia Pacific, emphasized the need to connect emerging stablecoin technology with familiar payment experiences. Visa has been integrating stablecoins into its settlement processes, with activity recently surpassing a $20 billion annualized run rate and growing over 15 times year over year.
