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Stablecoin use intent jumps with hypothetical bank protections, Visa survey finds
Visa said stablecoin adoption intent rises from 36% to 56% when consumers are told the tokens are backed by bank-level fraud protection and deposit insurance.
Visa’s survey found that Americans’ stated willingness to use stablecoins increases sharply when the assets are framed with protections similar to those offered by banks. According to Visa, adoption intent rises from 36% to 56% in a scenario where stablecoins are backed by hypothetical bank-level fraud protections and deposit insurance.
Visa commissioned Morning Consult to survey 2,192 U.S. adults from Feb. 24 to March 2. Respondents received definitions of key terms, including stablecoins, before answering, and Visa said trust also depends more on the payment provider than the underlying technology for 64% of respondents.
The payments company also reported that willingness to use stablecoins increases from 36% to 45% when they are offered through an existing financial provider. Visa said traditional commercial banks and global payment networks were the most trusted providers of digital currency services, with 61% and 60% expressing trust.
Even with increased interest under the protections scenario, Visa said familiarity remains low, with 56% of respondents saying they had never heard of stablecoins. The Block’s data dashboard cited in the article puts total supply of U.S. dollar-pegged stablecoins above $295 billion, including about $183.4 billion in Tether’s USDT and near $76 billion in Circle’s USDC.