Stablecoin adoption discussions overlook everyday users in Asia

Current discussions regarding stablecoins are heavily focused on institutional developments, such as those from banks and payment providers, while neglecting the needs of individual users. This disconnect is particularly notable in Asia, a region with significant potential for stablecoin adoption due to high volumes of cross-border trade, freelance payments, and remittances.

According to World Bank estimates for 2024, East Asia and the Pacific (excluding China) received US$88 billion in remittances, while South Asia received US$207 billion. While stablecoins are theorized to make these transactions faster and cheaper, the practical application for ordinary people and merchants remains a secondary focus in the industry conversation.