A survey conducted by Visa among 14,250 respondents found that although only 6% of the respondents truly understand how stablecoins work, interest in using stablecoins for payments is on the rise.

According to a survey by Visa, nearly half of consumers in the Asia-Pacific region may use stablecoins within the next five years, while the proportion of those who have actually used stablecoins in the past year is 16%.

Only 6% of respondents accurately understood how stablecoins work, and concerns about fraud and scamming remain the primary obstacle to adopting stablecoins.

Consumers are becoming increasingly interested in using stablecoins for daily shopping, traveling, and cross-border transfers, which creates significant opportunities for payment service providers.

A new survey conducted by Visa (V) shows that consumers in the Asia-Pacific region ( APAC ) are showing an increasing interest in using stablecoins for daily consumption, travel, and cross-border transfers.

This payment giant stated that among its 2.5 billion consumers in the Asia-Pacific region, nearly half are willing to start using cryptocurrencies pegged to fiat currencies within the next five years.

Visa The person in charge of digital currencies in the Asia-Pacific region, Nischint Sanghavi, stated: "We observe that there is a clear shift in consumers' views on stablecoins in the Asia-Pacific region."

Sanghavi explains that although consumers have limited knowledge of stablecoins, their interest in using them is increasing.

Of the 14,250 people surveyed by Visa, approximately half believe that stablecoins can only be used for buying and selling other cryptocurrencies.

The study found that 46% of the surveyed consumers indicated they might use stablecoins within the next five years, while 16% have actually used them in the past 12 months. Approximately 49% of the respondents believe that stablecoins could become a common method for cross-border fund transfers in the next five years.

There is still a significant gap between interest and understanding. Visa indicates that only 6% of respondents have an accurate understanding of how stablecoins work; among those who are aware of stablecoins but have not yet used them, 49% believe that stablecoins can only be used for buying and selling cryptocurrencies. Concerns about fraud and scams are the most commonly mentioned barriers to their use by these respondents.

According to Asia Business Council, stablecoin issuers, banks, and card organizations are competing for this payment opportunity, as there are approximately 2.5 billion middle-class consumers in the region. Research by CoinDesk indicates that Asia is already in a leading position in global stablecoin flows and on-chain activities, and payment companies are striving to transform this demand into everyday products.

Visa has itself expanded its stablecoin settlement network and is seeking to support more types of tokens and blockchains. Its partner, Reap, is also preparing local currency stablecoins for Asian and other markets for 24/7 foreign exchange settlements, which may include the launch of Hong Kong dollar, Korean won, and Japanese yen tokens.

Visa The head of digital currencies for the Asia-Pacific region, Sanghavi, said: "Consumers are beginning to see how stablecoins support the ways they already consume and transfer funds. The opportunity now is to turn this interest into a credible, familiar, and scalable payment experience." He also stated that this research confirms the direction in which Visa has been working all along.