Exploring the willingness of generation Z to use digital assets in Malaysia

Lew, Rou Xuan and Ong, Jiin Heng and Yap, Yei Jun (2025) Exploring the willingness of generation Z to use digital assets in Malaysia. Final Year Project, UTAR.

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Abstract

This study investigates the willingness of Generation Z in Malaysia to use digital assets, a critical topic amid the increasing digitalization of financial services. Using a quantitative research approach, data were collected through an online questionnaire distributed among Gen Z individuals. The research examines the impact of five independent variables—financial literacy, perceived risk, social influence, income level, and fintech awareness—on the willingness to use digital assets. The findings revealed that perceived risk, social influence, and income level have significant positive effects on Gen Z's willingness to engage with digital assets, while financial literacy and fintech awareness were found to have insignificant impacts. The study highlights that Gen Z’s willingness to adopt digital assets is strongly influenced by social factors and financial capability rather than purely by knowledge or awareness. This research contributes to the understanding of digital asset adoption among young consumers in Malaysia, providing valuable implications for fintech developers, digital asset platforms, and policymakers aiming to foster a more secure and inclusive financial environment. Future studies are recommended to explore additional moderating variables and expand the demographic scope to gain a more comprehensive understanding.

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