Research shows: stablecoins in Indonesia find new applications

A study sponsored by VISA found that the use of stablecoins in Indonesia is becoming increasingly diverse. They are used not only for crypto trading but also as an alternative to traditional banking services.

Expansion of Stablecoin Use in Indonesia

The use of stablecoins in Indonesia is expanding, serving not only for cryptocurrency trading but also as an alternative to traditional banking services. Users prefer stablecoins for converting US dollars (such as USDT) and euros, making international payments, and storing savings in digital dollars. Stablecoins are a major part of financial parallel infrastructure, with a total supply of around $170 billion and annual transactions in the trillions of dollars.

Popular Blockchains and Stablecoins

According to research conducted by Castle Island Ventures, Brevan Howard Digital, and Visa Crypto in collaboration with YouGov, popular blockchains include Ethereum, accounting for 50% of all stablecoin transactions in Indonesia. Other popular networks are Binance Smart Chain and Tron. USDT is the most used stablecoin, exceeding 90% of total transactions. The study also highlighted the importance of stablecoins for various purposes, from currency conversion to international payments and money storage in digital dollars.

Future of Stablecoins in Indonesia

The prospects for the use of stablecoins in Indonesia look positive. Local users increasingly see them as a more practical and flexible alternative to traditional banking services. Stablecoins offer the advantage of fast and cheap international transfers, making them attractive for purposes such as saving and cross-border transactions. They avoid intermediary costs and reduce delays, making the system transparent and accessible.

Thus, stablecoins continue to play an important role in the Indonesian financial system. They are becoming preferred among users looking for fast and efficient ways to manage their finances in the digital world.