Visa Launches Groundbreaking Stablecoin Analytics Dashboard, Illuminating the Cryptosphere

Visa's Online Analytics Dashboard for stablecoins simplifies complex data by providing insights into four stablecoins across nine blockchains. The dashboard adjusts transaction volume by filtering out bot-driven activity, adjusting the 30-day volume from $2.65 trillion to $265 billion. Visa further filters double-counting of swaps to provide a more accurate representation of stablecoin volume. The dashboard offers charts and graphs with data on supply, transactions, and users for USDC, USDT, PYUSD, and USDP, excluding off-chain activities.

Visa Unveils Groundbreaking Stablecoin Analytics Dashboard, Shedding Light on the Cryptosphere

In a groundbreaking move, Visa has launched an Online Analytics Dashboard specifically designed to dissect the intricate world of stablecoins. This innovative platform empowers users with lucid insights into the performance and usage of four prominent stablecoins deployed across nine blockchain networks.

Visa's Crypto Lead, Cuy Sheffield, recently penned a comprehensive blog post emphasizing the significance of accessible, real-time stablecoin data. However, he notes that harnessing the true potential of this information requires meticulous analysis to establish meaningful comparisons with traditional financial systems.

The volatility inherent in stablecoin metrics stems from their diverse applications. In the realm of Decentralized Finance (DeFi), bots and smart contracts engage in a myriad of activities, including arbitrage, liquidity provision, and market making, which starkly contrast with conventional settlement functions.

To address this complexity, Visa has deployed sophisticated methods to isolate bot-driven data. By employing a robust heuristic mechanism, non-organic activity is filtered, resulting in a substantial adjustment in the transaction volume for the preceding 30-day period, from an inflated $2.65 trillion to a more realistic $265 billion.

As Sheffield astutely points out, stablecoin transactions are accounted for differently than their conventional counterparts. For instance, when a user exchanges $100 of USDC for PYUSD on Uniswap, the total stablecoin volume is inflated to $200. This discrepancy arises because $100 of USDC is transferred from the user's wallet to the Uniswap contract, while simultaneously $100 of PYUSD is transferred from the contract to the user's wallet.

Visa's analytics platform circumvents this overcounting by considering such transactions as a $100 volume. The dashboard further presents a wealth of data visualized through user-friendly charts and graphs, covering supply, transactions, and users for USD Coin (USDC), Tether (USDT), PayPal USD (PYUSD), and Pax Dollar (USDP). Notably, this data excludes off-chain stablecoin activity.

Visa's unwavering commitment to the blockchain and cryptocurrency ecosystem is evident in its active participation in various initiatives. In 2023, Visa spearheaded an advocacy initiative aimed at fostering the adoption of stablecoin payments on public blockchain networks. Subsequently, Visa successfully processed transactions using USDC.

Visa's collaboration with Transak has further expanded its reach, enabling crypto withdrawals in over 145 countries. This partnership underscores Visa's unwavering commitment to providing innovative financial solutions for a rapidly evolving global landscape.

The advent of Visa's Stablecoin Analytics Dashboard marks a significant milestone, bridging the gap between the complexities of stablecoin data and its accessibility to stakeholders. Through this initiative, Visa empowers the crypto community with invaluable insights, fostering informed decision-making and paving the way for broader adoption of stablecoins as a viable and integral part of the modern financial ecosystem.