What Does the BVNK Stablecoin Utility Report Reveal?
The Stablecoin Utility Report 2026, produced by BVNK in partnership with YouGov, Coinbase, and Artemis, is the most comprehensive consumer-level study of stablecoin behavior to date. Based on a survey of 4,658 adults across 15 countries, the report moves beyond on-chain analytics to answer the questions product leaders and financial institutions are actually asking: How do people use stablecoins once they have them? How fast do they spend? What frustrates them?
The headline finding: stablecoins are no longer a niche trading tool. They are becoming everyday money — used for payments, savings, payroll, and cross-border commerce across both high-income and developing economies. This consumer-level data complements Artemis and Castle Island’s ground-level research tracking $136 billion in actual stablecoin payments settled between 2023 and 2025.
How Fast Are Stablecoin Holdings Growing?
The growth momentum is striking:
- 49% of holders increased their stablecoin holdings in the last 12 months
- 56% plan to acquire more in the next year
- 13% of non-owners intend to start holding stablecoins
- Africa leads with 79% ownership and +73% increase in holdings year-over-year — consistent with BCG’s projection of the stablecoin market reaching $3 trillion by 2030
Ownership skews young and entrepreneurial — more than half of owners are aged 18-34. In low and middle-income economies, 85% say their country’s economic situation directly influences their stablecoin usage. In Africa, that figure is 92%.
“There’s a disconnect in how we talk about stablecoins. On one side, you see the macro numbers: hundreds of billions in market cap. On the other hand, you might be thinking: When was the last time I paid for something in stablecoins?” — Chris Harmse, Co-Founder & Chief Business Officer, BVNK
How Are People Managing Their Stablecoins?
Exchanges Still Dominate — But Banks Have an Opening
Centralized exchanges remain the primary platform (46%), followed by payment apps with crypto features (40%) and mobile crypto wallets (39%).
But the most significant finding for financial institutions: 77% of respondents would open a stablecoin wallet if their bank or fintech app offered one. In Africa, that figure reaches 91%. Even in high-income economies, 67% say they’re likely.
Stablecoins as a Core Wealth Allocation
This isn’t marginal activity. Holders allocate an average of 34% of their total savings to crypto and stablecoins — rising to 36% in low and middle-income economies.
How Quickly Do People Spend Their Stablecoins?
Stablecoins move. They don’t sit in wallets:
- 28% convert or spend within days
- 23% convert within 1-3 weeks
- 16% convert within 1-2 months
- Only 11% say they don’t intend to spend at all
Speed varies by region — 45% of South Asian holders convert immediately or within days, versus 17% in Europe. The top triggers for conversion: everyday spending needs and favorable exchange rates.
The Spending Gap
Desire to spend stablecoins exceeds actual spending in every category tested:
- 42% want to spend on major purchases — only 28% currently do
- 34% want to make day-to-day online purchases — only 27% currently do
- 27% want to pay subscriptions (Netflix, Apple, Google) — only 21% currently do
The bottleneck isn’t consumer demand. It’s merchant acceptance.
Does Stablecoin Acceptance Drive Customer Acquisition?
Yes — decisively. More than half of stablecoin holders (52%) have purchased from a business specifically because it accepted stablecoins. In low and middle-income economies, that figure rises to 60%.
“Stablecoin acceptance doesn’t just convert customers, it creates them. It’s a universal payment rail that works everywhere local infrastructure doesn’t. For merchants, that’s not a feature. It’s a new market.” — Chris Harmse, BVNK
What About Getting Paid in Stablecoins?
For freelancers, gig workers, and marketplace sellers, stablecoins represent 35% of annual earnings on average. This isn’t supplemental income — it’s core revenue.
Impact on Cross-Border Work
- 73% of freelancers say stablecoins improved their ability to work with international clients
- 76% of marketplace sellers report improved sales volume or customer base
- 77% overall are interested in accepting stablecoins from international customers
- Interest is highest in Africa (95%) and APAC (87%)
What Do Users Like and Dislike About Stablecoin Payments?
What Works
- Lower fees (30%): Users save an average of 40% on fees compared to traditional payment methods
- Security (28%): Strong encryption and transparency
- Global access (27%): Cross-border capability without currency conversion
- Speed (25%): Minutes instead of days, available 24/7
What Doesn’t Work
- Irreversible payments (30%): The #1 frustration — risk of losing funds with no recourse
- Too many steps (22%): Payment complexity versus tapping a card
- Network confusion (20%): Needing to select a specific blockchain or stablecoin
- Hidden fees (20%): Exchange rates shown but not favorable
What Users Want
The report’s conclusion is clear: consumers want stablecoin payments to work like the payments they already know. Universal acceptance, seamless UX, built-in consumer protection. No compromises.
The Coinbax Perspective
The BVNK/YouGov research quantifies what we’ve been hearing from financial institutions: consumer demand for stablecoin payments has outpaced the infrastructure to support them. The 14-point gap between desired and actual spending on major purchases isn’t a technology problem — it’s an acceptance and trust infrastructure problem.
Two findings are particularly relevant for banks and credit unions evaluating stablecoin strategy:
First, 77% of consumers would open a stablecoin wallet through their existing bank. The trust is already there. The infrastructure gap is the only thing holding banks back. Financial institutions don’t need to convince customers to adopt stablecoins — they need to give them a trusted place to use them.
Second, irreversible payments are the #1 consumer frustration with stablecoin transactions. This validates the critical need for built-in reversibility, programmable escrow, and real-time compliance in stablecoin payment infrastructure. Consumers are explicitly asking for the protections that traditional payments provide — refunds, fraud protection, recovery options.
For institutions building stablecoin capabilities under the GENIUS Act framework, the path forward requires trust infrastructure that bridges the gap between blockchain efficiency and the consumer protections customers expect. The $300 billion stablecoin market isn’t waiting for better technology. It’s waiting for better trust.
Frequently Asked Questions
How was this research conducted?
YouGov surveyed 4,658 adults aged 18+ across 15 countries between September and October 2025. All respondents either currently hold or recently held cryptocurrency including stablecoins, or intend to acquire them in the next 12 months.
Which countries were surveyed?
The study covers 7 regions across 15 countries: USA, UK, France, Germany, Australia, Brazil, Argentina, Colombia, Mexico, Philippines, Singapore, Thailand, India, Nigeria, and South Africa.
Why is the 77% bank wallet finding significant?
It demonstrates that consumer trust in traditional financial institutions extends to digital assets. Banks and fintechs don’t need to build crypto-native brands — their existing trust is the competitive advantage.
What does the “spending gap” mean for businesses?
Desire to spend stablecoins exceeds actual spending in every category, meaning businesses that add stablecoin acceptance can capture unmet demand. Over half of holders have already chosen merchants specifically because they accept stablecoins.