Stablecoin Survey Finds 39% of Users Receive Income in Digital Dollars, Signaling Shift Beyond Trading

Stablecoin Survey Finds 39% of Users Receive Income in Digital Dollars, Signaling Shift Beyond Trading

A new 15-country survey on stablecoin usage reveals that digital dollar adoption has moved well beyond crypto trading, with nearly two-fifths of holders now receiving some form of income in stablecoins and more than a quarter using them for everyday purchases.

The findings, discussed in a February 24 podcast episode of Money Code featuring Chris Harmse and Anthony Yim, suggest that for early adopters, stablecoins are functioning less like speculative assets and more like practical payment rails—though their research also identifies a significant "integration gap" limiting broader use.

According to the survey results Harmse cited, 39% of stablecoin holders report getting paid in stablecoins, a category that includes both peer-to-peer payments and professional income. Another 27% say they actively use stablecoins for payments, with digital goods and subscriptions emerging as notable spending categories. These numbers point to a user base that has graduated from simply holding dollar-pegged tokens to incorporating them into regular financial flows.

The research reveals what the hosts call an "integration gap": more survey respondents want to use stablecoins for certain purchases than currently can, suggesting that merchant acceptance and embedded payment flows represent the primary bottleneck to adoption rather than user demand. The implication for finance leaders is that stablecoin infrastructure may be hitting a distribution problem rather than a product-market fit problem.

One statistic stands out for its implications on go-to-market strategy: 77% of respondents said they would open a stablecoin wallet with their primary fintech provider. Harmse and Yim interpret this as evidence that forcing users to download standalone crypto apps may be the wrong approach. Instead, the path forward involves adding stablecoin capabilities to existing trusted financial platforms where users already maintain relationships.

The survey also challenges conventional wisdom about geographic adoption patterns. While emerging markets show expected use cases—inflation hedging and workarounds for weak banking infrastructure—developed markets are demonstrating stronger-than-anticipated demand driven by speed, lower fees, and convenience rather than currency instability. Yim's conclusion is that developed-market appetite for stablecoin payments is "more real than many assume."

For corporate finance teams evaluating payment infrastructure, the research suggests stablecoins may be transitioning from a niche treasury consideration to a payment rail that some vendors and international contractors are beginning to expect. The survey indicates that utility, not speculation, is becoming the primary driver across both developed and emerging markets, though the specific utility varies by context.

The hosts emphasized that most users care about outcomes—faster payments, lower costs, broader access—rather than the underlying technology. This "rail-agnostic" user behavior means stablecoin adoption may accelerate not through crypto-native education campaigns but through quiet integration into familiar financial products.

The survey's scope across 15 countries provides a broader geographic lens than typical stablecoin analysis, which often focuses on on-chain transaction data and macro dashboards. That traditional approach, the podcast argues, misses the "user story"—what holders actually try to accomplish with stablecoins and what prevents them from doing so.