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Visa develops dashboard to make sense of stablecoin activity

Visa has teamed up with blockchain data provider Allium Labs to build a dashboard that helps people make sense of stablecoin activity.

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Visa develops dashboard to make sense of stablecoin activity

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The Visa Onchain Analytics Dashboard is designed to be an easily-digestible, freely-available window into publicly-available aggregated blockchain data, beginning with stablecoins.

From information on active users, to volumes by coin and blockchain, to transaction sizes and an evolving set of metrics, the dashboard looks to provide clear insights into stablecoin activity.

Explaining the value of the resource, Visa head of crypto, Cuy Sheffield cites a chart that has been making the rounds on social media showing the volume that some of the world’s major settlement networks process annually, in billions of dollars, and comparing those to annual stablecoin volumes.

The chart shows stablecoin volumes overtaking Bitcoin, PayPal and "remittances" - and fast approaching Visa.


However, notes Sheffield: "There is also a lot of noise in this data given that blockchains are general purpose networks where stablecoins can be used across a range of use cases with transactions that can be initiated manually by an end user or programmatically through bots."

The Visa dashboard paints a more complicated picture than the social media graph, showing three trends:

  • Stablecoin supply is approaching all-time highs approaching $150 billion
  • Steady growth of monthly active stablecoin users at 27.5 million across all chains
  • Discrepancy between total transfer volume vs bot-adjusted transfer volume is huge - removing inorganic data shows transfer volume for the last 30 days can be adjusted from $2.65 trillion to $265 billion
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