How consumers use stablecoins: 2026 BVNK report highlights

Without doubt, ‘stablecoins are unlocking money: speed instead of delay, access instead of barriers, opportunity where the old system said no.’ Chris Harmse, Co-Founder & Chief Business Officer, BVNK

According to the BVNK Stablecoin Utility Report 2026, half of the consumer holding crypto increased their stablecoin holdings in the last year. What were the reasons for doing so? Who are these consumers – what is their age, where do they come from, what do they do with the stablecoins, what is the average amount they hold?

Mirela Ciobanu, Lead Editor with The Paypers, is on a quest to find some answers for these questions based on data from the BVNK report. The Stablecoin Utility Report 2026 provides one of the clearest views to date on how stablecoins are no longer just a technical innovation or a speculative asset, but a transformational phase of how money moves. Based on a survey conducted with YouGov across more than 4,600 respondents in 15 countries, the report moves beyond assumptions and anecdotal evidence. It focuses on real behaviour, real usage, and real expectations.

And what it reveals is both simple and profound. Stablecoins are being used. Actively, frequently, and with purpose.

From holding to moving money

One of the most important insights from the report is that stablecoins are not sitting idle. They move.

Among stablecoin holders, 45 % convert them into local currency, and 27 % spend them directly on goods and services. Only a small minority says they do not intend to use them at all. Even more telling is the speed. Around 28 % of users convert or spend within days, while the majority do so within a few months.

This challenges a long-standing assumption that stablecoins are primarily used as a store of value or as a hedge against inflation. While that use case still exists, it is no longer the dominant one.

Instead, stablecoins are increasingly behaving like money. They have velocity.

A practical example helps illustrate this. A freelancer in Argentina may receive payments in stablecoins from international clients. That individual might convert part of the balance into local currency to pay rent, use a linked card to cover daily expenses, and keep some funds in stablecoins as a hedge or savings tool. In some cases, they may even generate yield on that balance.
This is not a single use case. It is a multi-layered financial behaviour. Stablecoins are simultaneously a payment method, a store of value, and a financial infrastructure layer.

Adoption is growing where it matters most

Stablecoin adoption is strongly driven by younger demographics, with over half of both current users and those considering adoption falling within the 18 to 34 age group.

While men still represent most users globally, accounting for around 60% of ownership, the gender gap becomes less pronounced in low- and middle-income economies, where participation is more evenly distributed. In Africa, adoption is nearly balanced between men and women. Individuals involved in business activities, entrepreneurship, or active trading show a higher likelihood of using or expressing interest in stablecoins.

Economic conditions also play a significant role. In low- and middle-income countries, 85% of respondents say that the state of the local economy influences their decision to use stablecoins or other crypto assets. This impact is even more evident in Africa, where the figure rises to 92%.

Thus, the report highlights strong growth in stablecoin adoption, particularly in regions where traditional financial infrastructure is less efficient, and it is no coincidence that the momentum is stronger in regions such as Africa, Latin America, and parts of Asia.

In markets where access to stable currencies is limited, where cross border payments are expensive, or where inflation erodes savings, stablecoins offer a practical alternative. They are not just complementing the financial system. In some cases, they are replacing parts of it.

This is where the connection to modern wealth becomes tangible. Access to stable, transferable, and programmable money enables individuals to participate more actively in the global economy.

Not speculation, but utility

Another key takeaway is that stablecoin usage is driven by practical needs, not ideology.

The main reasons users adopt stablecoins are lower fees, better security, and the ability to transact internationally. These are operational benefits. They reflect everyday financial challenges rather than speculative motivations.

For freelancers, gig workers, and marketplace sellers, the impact is particularly strong. Stablecoins represent around 35 % of annual income for this group on average. That is not marginal. It is foundational. A large majority of freelancers report that stablecoins improve their ability to work with international clients. Marketplace sellers also see tangible benefits, including increased sales and access to new customers.

This is where stablecoins begin to support economic participation in a very direct way. They reduce friction, expand access, and enable income generation across borders.

The cost advantage is real

For years, the payments industry has debated whether blockchain based payments can truly reduce costs. This report provides concrete data.

On average, users report saving around 40 % in transaction fees when using stablecoins for payments or remittances. This is significant, especially when compared to traditional cross border payment costs, which remain relatively high in many regions. Global data from the World Bank shows that sending USD 200 across borders typically costs around 6.4%, with fees rising above 8% in certain corridors, especially those involving Sub-Saharan Africa. By contrast, stablecoins enable transactions to be settled directly on blockchain networks, reducing reliance on intermediaries and helping lower overall transfer costs.

For individuals sending money home, this translates into more funds reaching their families. For businesses, it improves margins and cash flow.

In the context of modern wealth, this efficiency matters. Lower costs mean more value retained by users, which can be reinvested, saved, or spent within local economies.

Merchant acceptance is the critical constraint

The most actionable finding in the report for ecommerce and merchant payments professionals is the spending gap.

In every category tested, daily online purchases, subscriptions, travel, major purchases, trading platforms, the desire to spend stablecoins significantly exceeds current spending. The largest gap is in major and lifestyle purchases, where 42% want to spend crypto but only 28% currently do.

Stablecoin acceptance demonstrably drives new customer acquisition. More than half (52%) of stablecoin holders have made a purchase specifically because a merchant accepted stablecoins. In low and middle-income economies, that figure reaches 60%. Merchants that accept stablecoins are accessing customers who would not otherwise have converted.

Almost three in four respondents (71%) say they would use a linked debit card to spend their stablecoins, rising to 78% in low and middle-income economies. This is not a population asking for a fundamentally different payment experience. It is a population asking for stablecoins to be made as easy to spend as any other money they hold.

No wonder BVNK might be joining Mastercard to power stablecoin capabilities across the card network’s payment endpoints, enabling 24/7 stablecoin settlement for processors and acquirers, and adding stablecoin checkout to Mastercard’s payment gateway. As part of this partnership, Mastercard could provide BVNK with global fiat infrastructure (push-to-card, account, wallet).

Trust still sits with financial institutions

Centralised exchanges currently dominate stablecoin acquisition and management: 34% of holders buy through exchanges, 46% prefer to manage their holdings there. But the data reveals a powerful latent demand for stablecoin services through trusted financial institutions.

A significant majority of respondents say they would open a stablecoin wallet if offered by their bank or primary fintech provider. Roughly 77% of users are interested in accessing crypto or stablecoin wallets directly through their existing banking or fintech platforms. This sentiment is consistent globally. Even in wealthier nations, 67% of consumers expressed a high likelihood of adoption, while an additional 22% remain open to the idea but require further education before committing.

Banks and fintechs already have the customer relationship. What they need is the product layer that enables stablecoin usage.

It is striking to observe how this ‘trust gap’ has ignited a high-stakes race among crypto-native firms to secure formal banking status as a way to build long-term credibility and defensive competitive moats. Following Kraken’s landmark acquisition of a Wyoming Special Purpose Depository Institution (SPDI) charter and its recent 2026 milestone of securing a Federal Reserve master account, the industry has seen a wave of institutionalisation; five major players, Circle, BitGo, Paxos, Ripple, and Fidelity Digital Assets, have all pursued or received conditional approval for national trust bank charters. By obtaining these licenses, crypto firms can finally mirror the perceived reliability of traditional global financial institutions, directly addressing the findings from the study where users would prefer accessing stablecoin services through a bank-integrated or highly regulated fintech environment.

What users still need

While adoption is growing, there are still clear friction points.

Users highlight concerns around irreversible payments (30 %), complexity (‘too many steps to complete a payment’ – 22 %), and lack of clarity in fees or exchange rates (20 %). They also point to the need for better consumer protection (14 %) and simpler user experiences (e.g., clear flows, easy addresses, error-proofing for mainstream users – 10 %). These are not new challenges. They are areas where the traditional payments industry has decades of experience.

This is why the next phase of stablecoin adoption is likely to be shaped not just by blockchain innovation, but by integration with existing financial systems. Better UX, clearer pricing, stronger safeguards, and wider acceptance.

From theory to practice

For years, discussions around digital assets have focused on what might happen. This report shifts the focus to what is already happening. Consumers are not waiting. They are adopting, experimenting, and integrating stablecoins into their financial lives.

The question for the industry is no longer whether stablecoins have utility. The data suggests they do. The real question is how quickly financial institutions, fintechs, and merchants can respond. How can they build products that meet existing demand? And how can they ensure that this innovation contributes to something larger?

Because in the end, the goal is not just to evolve payments. It is to support a broader definition of wealth. One that is more accessible, more inclusive, and more aligned with the realities of a global, digital economy.

About author

Mirela Ciobanu is Lead Editor at The Paypers, bridging the knowledge gap between TradFi and DeFi. With a keen eye for industry trends, she is constantly on the lookout for the latest developments in crypto and blockchain.

Closely in contact with subject matter experts in the digital assets space, Mirela amplifies your voice through compelling interviews, webinars, reports, and articles. She aims to deliver informative and educational insights that help create the Web3 ecosystem. To share more ideas and get inspired, connect with Mirela on LinkedIn or reach out via email at mirelac@thepaypers.com.