Visa推出穩定幣分析中心，照亮數位貨幣生態系統

Visa 與 Allium Labs 合作發布了新的穩定幣分析網站。儘管顯示穩定幣交易量已超過 PayPal 並接近 Visa 的水平，但 Visa 的加密貨幣主管警告稱，機器人活動會扭曲數據，導致 30 天交易量從 2.65 兆美元下降至 2,650 億美元。然而，活躍的穩定幣用戶持續增加至 2,750 萬。值得注意的是，統計數據不包括鏈下交易，而鏈下交易構成了加密貨幣活動的大部分，尤其是在交易所等平台上，Tether 是一種流行的結算穩定幣。

Visa Unveils Stablecoin Analytics Website, Casting Light on Digital Currency Ecosystem

Visa 推出穩定幣分析網站，揭示數位貨幣生態系統

Payment giant Visa has made a significant foray into the burgeoning world of stablecoins, unveiling a new analytics website in collaboration with Allium Labs. This move signals a growing recognition by traditional financial institutions of the transformative potential of digital currencies.

支付巨頭 Visa 已大舉進軍新興的穩定幣領域，與 Allium Labs 合作推出了一個新的分析網站。此舉標誌著傳統金融機構越來越認識到數位貨幣的變革潛力。

In a blog post accompanying the launch, Cuy Sheffield, Visa's head of crypto, revealed the impetus behind the analytics platform. Sheffield presented a widely circulated graphic demonstrating that stablecoin volumes have eclipsed those of PayPal and are rapidly approaching Visa's own transaction levels.

Visa 加密貨幣業務主管 Cuy Sheffield 在發布的部落格文章中透露了該分析平台背後的推動力。 Sheffield 展示了一張廣為流傳的圖表，表明穩定幣交易量已經超過 PayPal，並且正在迅速接近 Visa 自己的交易水平。

However, Sheffield cautioned against taking these figures at face value, highlighting the presence of substantial noise in the data stemming from bot activity. These bots engage in essential crypto operations such as arbitrage, liquidity provision, and market making, which are distinct from conventional settlement transactions.

然而，謝菲爾德警告不要只從表面上看這些數據，強調數據中存在來自機器人活動的大量噪音。這些機器人從事基本的加密貨幣操作，例如套利、流動性提供和做市，這與傳統的結算交易不同。

To provide a more accurate picture, Visa's analytics exclude bot activity, reducing 30-day transaction volumes from an inflated $2.65 trillion to a more realistic $265 billion. Nevertheless, the number of active stablecoin users has steadily climbed to an impressive 27.5 million.

為了提供更準確的情況，Visa 的分析排除了機器人活動，將 30 天的交易量從誇大的 2.65 兆美元減少到更現實的 2,650 億美元。儘管如此，穩定幣的活躍用戶數量已穩定攀升至令人印象深刻的 2,750 萬人。

It is crucial to note that these statistics encompass only on-chain volume. A significant portion of crypto transactions occur on centralized exchanges, with Tether emerging as the dominant settlement stablecoin. These transactions are recorded within the exchanges' internal ledgers, with only occasional on-chain settlements.

值得注意的是，這些統計數據僅包含鏈上交易量。很大一部分加密貨幣交易發生在中心化交易所，Tether 成為主要的結算穩定幣。這些交易記錄在交易所的內部分類帳中，僅偶爾進行鏈上結算。

While not endorsing Tether's practices, Visa's data may underestimate Tether's true transaction volumes, including those facilitated through exchanges. This skews the figures, indicating a larger market share for USDC than is likely the case.

雖然不認可 Tether 的做法，但 Visa 的數據可能低估了 Tether 的真實交易量，包括透過交易所促成的交易量。這使得數據出現偏差，顯示 USDC 的市佔率比實際情況更大。

The question arises as to why Visa has chosen to publish these analytics. In January, industry analysts speculated about the possibility of Visa launching its own stablecoin. While concerns remain among central bankers, it seems unlikely that Visa would pursue a direct-to-consumer approach, given its focus on business-to-business transactions.

問題在於 Visa 為什麼選擇發布這些分析數據。一月份，產業分析師猜測 Visa 推出自己的穩定幣的可能性。儘管央行行長們仍然存在擔憂，但考慮到 Visa 專注於企業對企業交易，它似乎不太可能採取直接面向消費者的方式。

Instead, Visa may consider expanding its offerings with a stablecoin issuance and multi-chain management solution akin to Japan's Progmat Coin. Reports indicate that Visa is actively exploring this avenue, complemented by the launch of a web3 loyalty solution and its involvement in tokenized deposits.

相反，Visa 可能會考慮透過穩定幣發行和類似日本 Progmat Coin 的多鏈管理解決方案來擴展其產品。報告顯示，Visa 正在積極探索這一途徑，並推出 web3 忠誠度解決方案並參與代幣化存款。

Moreover, Visa has already made inroads in facilitating payments to web3 merchants using stablecoins, such as USDC, through partnerships with Worldpay and Nuvei. These developments underscore Visa's commitment to embracing digital currencies and fostering innovation within the financial landscape.

此外，Visa 已經透過與 Worldpay 和 Nuvei 的合作，在使用 USDC 等穩定幣向 web3 商家進行支付方面取得了進展。這些發展凸顯了 Visa 對擁抱數位貨幣和促進金融領域創新的承諾。

In conclusion, Visa's stablecoin analytics website sheds light on the rapid growth and complexities of the stablecoin ecosystem. By adjusting for bot activity and considering the broader exchange landscape, a clearer picture emerges of the true scale and dynamics of stablecoin usage. As traditional financial institutions continue to engage with digital currencies, Visa's move sets a precedent for transparency and data-driven insights, contributing to the maturation and mainstream adoption of stablecoins in the years to come.

總之，Visa 的穩定幣分析網站揭示了穩定幣生態系統的快速成長和複雜性。透過調整機器人活動並考慮更廣泛的交易格局，可以更清晰地了解穩定幣使用的真實規模和動態。隨著傳統金融機構繼續接觸數位貨幣，Visa 的舉動開創了透明度和數據驅動洞察力的先例，有助於未來幾年穩定幣的成熟和主流採用。