Despite the hype surrounding the digital assets, businesses remain cool to using the cryptocurrency, according to the results of a Cleveland Federal Reserve survey.

Stablecoins aren’t going to become a disruptive force in payments in the United States anytime soon as businesses are displaying a lack of enthusiasm for the digital currency, based on a survey by the Cleveland Federal Reserve Bank.

Reasons businesses are cool to using stablecoins include lack of familiarity with the technology; satisfaction with legacy payment options; and little to no demand among customers and suppliers to use stablecoins for payment, according to the results of the Cleveland Fed’s survey in late September.

Of the survey’s 148 respondents, only one said it is currently using stablecoins. Among the remaining respondents, seven said they plan to use stablecoins in the future. The other respondents either said they weren’t sure they would use stablecoins in the future or expressed a lack of familiarity with the digital currency.

The results were somewhat surprising to Federal Reserve researchers conducting the survey as they expected more respondents to have plans to begin using stablecoins.

“We didn’t expect the results to be as lopsided as they were,” Peter Zimmerman, a research economist for the Cleveland Fed who co-authored the report, said in summarizing the survey’s results during an interview earlier this month.

Lack of knowledge about stablecoins is a big reason why businesses are not rushing to accept them for payment or use stablecoins for payment, according to the Cleveland Fed’s report.

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