According to Visa's Money Travels 2026 report released on September 23, U.S. consumer interest in stablecoins rose significantly when presented with hypothetical safeguards. The survey, conducted by Morning Consult between February 24 and March 2 among 2,192 U.S. adults and 45,445 respondents across 20 global markets, found that 36% of respondents would consider using stablecoins without protections, which increased to 45% when offered through existing financial providers. Adding bank-level fraud protection and deposit insurance pushed stated interest to 56%. The 56% figure represents stated willingness under hypothetical protections, not current stablecoin use or observed adoption rates. As reported by Visa, 64% of Americans said their trust in payment methods depended more on the company offering it than the underlying technology itself, with traditional commercial banks receiving a 61% trust reading for digital currency services.
The survey found that 56% of U.S. respondents had never heard of stablecoins before receiving definitions in the Visa survey, with some consumers incorrectly assuming stablecoins move in price like Bitcoin. Across all 20 markets, 69% of respondents said trust in new money transfer methods depended more on their provider than the underlying technology. The findings highlight a gap between possible demand and current public understanding of the asset class, as familiarity, product design, and perceived safety measures remain important factors in consumer consideration of digital payment assets. Participants received definitions of key terms, including stablecoins, before answering the survey, ensuring accurate understanding of the concepts being evaluated.
According to recent market data, USDC and USDT continue to lead the stablecoin market with approximately $260 billion in total capitalization. The survey findings suggest that existing stablecoin providers could significantly expand their user base if they offer banking-level protections. Unlike products from traditional financial institutions, stablecoins currently lack many fraud protections and are not covered by deposit insurance provided by the Federal Deposit Insurance Corporation.
According to Visa's methodology note, the protection scenario should not be read as describing current U.S. stablecoin coverage, as stablecoins are not presently covered by deposit insurance such as FDIC protection. The GENIUS Act framework is still being implemented, with an FDIC proposal published in April establishing reserve, capital, redemption and risk-management requirements for payment stablecoin issuers. Federal Reserve staff noted that payment stablecoins must carry 1:1 reserve backing under the GENIUS Act, while the law does not make stablecoins themselves federally insured deposits. The regulatory framework is moving through implementation with the OCC's 2026 proposal covering reserve composition and oversight requirements. Companies are preparing for the GENIUS Act's January 2027 enactment, which will introduce guidelines to address illicit activities, though US stablecoins are not expected to receive explicit FDIC insurance.
As reported by Visa, 36% of U.S. respondents had encountered scams connected to international money transfers, with fake messages, impersonation attempts and fraudulent investment schemes among reported tactics. Artificial intelligence played a significant role in fraud exposure, with 24% of respondents receiving AI-generated messages that appeared genuine, while 44% expressed concern about deepfakes being used to impersonate family members. Across all markets, one in four remittance users reported encountering fraud exposure. Financial pressure around remittances remained visible, with roughly one in five senders saying they reduced their own spending to support family members abroad.
On Tuesday, the European System of Central Banks pushed for changing rules to require stablecoins hold at least 30% of reserves as bank deposits, or 60% for tokens deemed 'Significant'. This international regulatory push reflects growing global concerns about stablecoin oversight and risk management. The European proposals come as stablecoin adoption continues to grow, with Visa reporting that stablecoin settlement volume has surpassed $20 billion annualized as of September, representing more than 15 times the level reported a year earlier. Consistent with these international developments, Europe is also debating stablecoin reserve rules under MiCA, with central bank representatives arguing for changes to bank-deposit thresholds.
