Visa, CoinShares find growing crypto appetite among consumers and affluent investors

A Visa study reveals that nearly half of Asia Pacific consumers are open to using stablecoins within the next five years, despite challenges in understanding and adoption. The study surveyed 14,250 individuals aged 18 to 65 across 14 markets, including Singapore, Malaysia, Thailand, Indonesia, the Philippines, Vietnam, and India.

While awareness of stablecoins is high, at 66%, comprehension is lacking, with only 6% accurately understanding how they work. Misconceptions persist, such as believing stablecoins can only be used to trade other cryptocurrencies or that they always increase in value. Key use cases include online shopping, travel spending, and cross-border transfers, which could benefit from faster settlement and lower transaction costs.

However, concerns about fraud and misunderstanding of stablecoins may hinder widespread adoption. Trust in stablecoin providers is also uneven, with consumers preferring regulated entities like government or central bank-linked institutions or banks. Southeast Asia shows uneven interest, with Vietnam and India demonstrating the highest intent to use stablecoins (67%).