Asia-Pacific Consumers Open to Using Stablecoins for Everyday Transactions - BusinessWorld Online
Visa said 46% of APAC consumers are likely to use stablecoins within five years, but only 6% understand how they work.
- On Monday, Visa released its 'Consumer 360' survey findings, showing 46% of consumers across 14 Asia Pacific markets are likely to use stablecoins within five years, compared with 16% who used them in the past 12 months.
- Although 66% of respondents are aware of stablecoins, only 6% demonstrate an accurate understanding of how they work, and 41% incorrectly believe the tokens always increase in value.
- Trust concerns hamper adoption, with 38% of aware consumers citing fraud or scam fears, while 27% prefer government or central bank-linked entities and 26% favor banks or regulated financial institutions.
- Nischint Sanghavi, Head of Digital Currencies, Asia Pacific at Visa, said, "We're seeing a meaningful shift in how consumers across Asia Pacific think about stablecoins," citing potential for travel and cross-border transfers.
- A separate CoinShares study released October 5 found affluent investors in the U.S. and Europe hold higher digital asset allocations, though the two surveys cover different populations and cannot be directly compared.
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Nearly Half of Asia Pacific Consumers Open to Using Stablecoins
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Nearly Half of Asia Pacific Consumers Open to Using Stablecoins in the Next Five Years, Visa Study Finds
Singapore, October 5: Visa, a world leader in digital payments, today released new survey findings on stablecoin awareness and consumer sentiment in Asia Pacific. The research reveals growing interest in practical uses such as everyday spending, travel and cross-border money movement, while limited understanding and concerns around trust remain barriers to wider use.
A Visa survey found that 46% of consumers consulted in Asia-Pacific could use stablecoins in the next five years, although only 6% showed a precise understanding of how they work. Vietnam and India lead the stated intent, in a context where there are also doubts about fraud and lack of information.
Visa Poll Finds Nearly Half Of People In Asia Might Use Stablecoins By 2031
A new poll by credit card giant Visa (NYSE: $V) has found that nearly half (46%) of people in Asia might use stablecoin payments by 2031. In a statement, Visa said its survey shows that stablecoin interest has moved well ahead of actual use across Asia. Only 16% of people in Asia Pacific used…
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