An American multinational payment card services firm, Visa, launches an Online Analytics Dashboard for stablecoins to simplify data access and interpretation, focusing on four stablecoins across nine blockchains and filtering out noise for accurate insights in a partnership with Allium Labs.
Cuy Sheffield, Visa’s crypto head, said, “We apply a simple heuristic that removes inorganic data, we see that transfer volume for the last 30 days can be adjusted from $2.65T to $265B2.”
Stablecoin accounting differs from traditional transactions; for instance, a $100 USDC to PYUSD conversion on Uniswap is counted as $100 in volume, not $200. The dashboard provides data on stablecoin supply, transaction volume, and monthly active users for USDC, USDT, PYUSD, and USDP across five layer-1 blockchains and four layer-2s where stablecoins are issued.
Visa’s engagement with crypto includes a project for mainstream blockchain and stablecoin adoption, support for USDC, and partnerships like MetaMask for crypto withdrawals.
It also collaborated with the Hong Kong Monetary Authority and banks on CBDC and tokenized deposits. In 2024, Visa joined financial institutions in testing the U.K. Regulated Liability Network’s use cases.
Visa’s launch of the Online Analytics Dashboard for stablecoins reflects its proactive approach toward enhancing crypto accessibility and transparency, signaling a strategic move toward embracing blockchain technology.
Also Read: BRICS Nations Explore Development of Native Crypto Stablecoin
