Visa推出稳定币分析中心，照亮数字货币生态系统

Visa 与 Allium Labs 合作发布了新的稳定币分析网站。尽管显示稳定币交易量已超过 PayPal 并接近 Visa 的水平，但 Visa 的加密货币主管警告称，机器人活动会扭曲数据，导致 30 天交易量从 2.65 万亿美元下降至 2650 亿美元。然而，活跃的稳定币用户持续增加至 2750 万。值得注意的是，统计数据不包括链下交易，而链下交易构成了加密货币活动的大部分，尤其是在交易所等平台上，Tether 是一种流行的结算稳定币。

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

Visa 推出稳定币分析网站，揭示数字货币生态系统

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.

支付巨头 Visa 已大举进军新兴的稳定币领域，与 Allium Labs 合作推出了一个新的分析网站。此举标志着传统金融机构越来越认识到数字货币的变革潜力。

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 加密货币业务主管 Cuy Sheffield 在发布的博客文章中透露了该分析平台背后的推动力。 Sheffield 展示了一张广为流传的图表，表明稳定币交易量已经超过 PayPal，并且正在迅速接近 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，谢菲尔德警告不要仅从表面上看这些数据，强调数据中存在来自机器人活动的大量噪音。这些机器人从事基本的加密货币操作，例如套利、流动性提供和做市，这与传统的结算交易不同。

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.

为了提供更准确的情况，Visa 的分析排除了机器人活动，将 30 天的交易量从夸大的 2.65 万亿美元减少到更现实的 2650 亿美元。尽管如此，稳定币的活跃用户数量已稳步攀升至令人印象深刻的 2750 万。

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，这些统计数据仅包含链上交易量。很大一部分加密货币交易发生在中心化交易所，Tether 成为主要的结算稳定币。这些交易记录在交易所的内部分类账中，仅偶尔进行链上结算。

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.

虽然不认可 Tether 的做法，但 Visa 的数据可能低估了 Tether 的真实交易量，包括通过交易所促成的交易量。这使得数据出现偏差，表明 USDC 的市场份额比实际情况要大。

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.

问题在于 Visa 为什么选择发布这些分析数据。一月份，行业分析师猜测 Visa 推出自己的稳定币的可能性。尽管央行行长们仍然存在担忧，但考虑到 Visa 专注于企业对企业交易，它似乎不太可能采取直接面向消费者的方式。

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 可能会考虑通过稳定币发行和类似于日本 Progmat Coin 的多链管理解决方案来扩展其产品。报告显示，Visa 正在积极探索这一途径，并推出 web3 忠诚度解决方案并参与代币化存款。

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 已经通过与 Worldpay 和 Nuvei 的合作，在使用 USDC 等稳定币向 web3 商家进行支付方面取得了进展。这些发展凸显了 Visa 对拥抱数字货币和促进金融领域创新的承诺。

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.

总之，Visa 的稳定币分析网站揭示了稳定币生态系统的快速增长和复杂性。通过调整机器人活动并考虑更广泛的交易格局，可以更清晰地了解稳定币使用的真实规模和动态。随着传统金融机构继续接触数字货币，Visa 的举动开创了透明度和数据驱动洞察力的先例，有助于未来几年稳定币的成熟和主流采用。