Visa survey: Asia-Pacific consumers show interest in stablecoins

A Visa survey of 14,250 people in the Asia-Pacific region reveals that 46% of respondents are open to using stablecoins within the next five years. While 16% reported using them in the past 12 months, a significant gap exists between consumer interest and technical understanding; only 6% of participants demonstrated a correct understanding of how stablecoins function.

Respondents indicated that stablecoins could become a common method for cross-border money transfers, with 49% agreeing. However, concerns regarding fraud and scams remain the primary barrier for those who are aware of the technology but have not yet adopted it. Many users also mistakenly believe stablecoins are exclusively used for trading other cryptocurrencies.

Nischint Sanghavi, Visa’s head of digital currencies for Asia-Pacific, noted a “significant shift” in how regional consumers perceive these assets. Visa is working to expand its stablecoin settlement network to support more tokens and blockchains. Additionally, Visa partner Reap is preparing local currency stablecoins for 24-hour foreign exchange settlement, potentially including tokens pegged to the Hong Kong dollar, Japanese yen, and South Korean won.