Visa Says Bank-Level Fraud Protection and Deposit Insurance Could Unlock US Stablecoin Adoption
Visa is releasing a new report showing how bank-level protections could significantly boost American interest in using stablecoins to send money abroad. The survey of more than 2,000 US consumers finds that Americans are looking for faster and more affordable ways to send money to family and friends overseas, while still expecting strong security protections. The company says adoption intent rises from 36% to 56% when stablecoins, or dollar-pegged crypto assets, include fraud protection and deposit insurance, similar to what banks offer. Nearly two-thirds of respondents say trust depends more on the provider than the technology itself. Meanwhile, willingness to use stablecoins climbs from 36% to 45% when offered through an existing financial institution. Traditional banks and global payment networks command the highest trust for digital currency services at 61% and 60%, respectively. Despite the potential rise in US stablecoin adoption, over half of Americans have never ...