The research from Enfuce surveyed C-level executives, owners, and senior directors of technology startups across the EU and UK with an understanding of stablecoins. It found that 87% saw stablecoin adoption as a potential competitive advantage, and 76% saw the possibility of stablecoins becoming the “future of money”.

However, the overwhelming majority, 97%, identified external risks to future adoption. Fifty per cent of respondents see the potential fraud and the use of cryptocurrencies for illicit trade as blockers to stablecoin adoption.

Stablecoins are now one of the most common virtual assets for illicit use, according to the intergovernmental Financial Action Task Force, with most on-chain illicit activity now involving stablecoins. 

These were not the only risks to adoption. Others identified by respondents were growing regulatory complexity (37%), stablecoins devaluing and “depegging” (34%), and the environmental impact (27%).

Startups that have a good knowledge of stablecoins remain, however, bullish on potential benefits. Almost all either hold stablecoins or are planning to do so; only 6% have no plans to use them at all. The 40% who hold stablecoins today hold an average of 39% of their reserves in tokens, an average of €60,000.

Despite this, only 18% said that they had a “comprehensive understanding” of whether these funds are insured or safeguarded, and 20% had a complete understanding of current and upcoming regulatory frameworks.

The most popular reasons for holding cryptocurrency are to enable faster and cheaper cross-border payments, improved operational efficiency, and access to new financial infrastructure. 

Monika Liikamaa, Co-Founder and Co-CEO of Enfuce, said: “Stablecoins are fast becoming part of the financial toolkit for startups, but trust still needs to catch up with the pace of innovation. To unlock their full potential, we need to lay the groundwork: clear rules, strong safeguards and industry-wide transparency. That’s how we build confidence, and real momentum.”

Denise Johannson, Co-Founder and Co-CEO of Enfuce, said: “Many startups are starting to see stablecoins as a practical way to improve speed and efficiency. But for adoption to scale sustainably, there needs to be clearer guidance on risk and accountability. That’s where regulation, education and industry collaboration all have a role to play.”

The research was commissioned by Enfuce and carried out by independent research agency Sapio, surveying 250 technology startups across Europe and the UK. Fieldwork took place in October 2025.

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