A new Visa survey points to growing consumer interest in stablecoins across the Asia-Pacific region, even as understanding of how they work remains limited. The survey covered 14,250 respondents and found that 46% said they may use stablecoins within the next five years, while 16% reported having used them in the past 12 months. Nearly half, or 49%, said stablecoins could become a common way to send money across borders within five years. Visa said the shift reflects changing attitudes among consumers in the region, which is home to about 2.5 billion middle-class consumers. At the same time, only 6% of respondents were able to accurately explain how stablecoins work, and 49% of those familiar with them said they viewed stablecoins as tools used only for buying and selling crypto. Among people who knew about stablecoins but had not used them, concerns about fraud and scams were the most frequently cited barrier. Visa also said it has expanded its stablecoin settlement network and is looking to support more tokens and blockchains, while partner Reap is preparing local-currency stablecoins for 24/7 foreign exchange settlement in Asia and other markets.
Visa said a new survey shows consumer interest in stablecoins is rising across the Asia-Pacific region.
The survey covered 14,250 respondents. Of those, 46% said they may use stablecoins within the next five years, while 16% said they had actually used them in the past 12 months. About 49% said stablecoins could become a common method for cross-border transfers within five years.
Nischint Sanghavi, Visa's head of digital currencies for Asia-Pacific, said consumer views on stablecoins in the region are shifting noticeably. He also said the knowledge gap remains significant.
According to Visa, only 6% of respondents accurately understood how stablecoins work. Another 49% of people who were aware of stablecoins said they believed the tokens could only be used to buy and sell cryptocurrencies.
Among respondents who knew about stablecoins but had not used them, concerns about fraud and scams were the most commonly cited obstacle.
Visa said Asia-Pacific has about 2.5 billion middle-class consumers, and nearly half are open to using cryptocurrencies pegged to fiat currencies. The company said it has expanded its stablecoin settlement network and is seeking to support more tokens and blockchains.
Its partner Reap is preparing local-currency stablecoins for 7×24 foreign exchange settlement in Asia and other markets, potentially including tokens tied to the Hong Kong dollar, South Korean won and Japanese yen.
Visa added that Asia currently leads the world in stablecoin flows and on-chain activity, while payment companies are trying to turn that demand into everyday payment products.
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