Visa Research Report: Over 90% of Stablecoin Transactions Do Not Come from Real Users
ChainCatcher news, according to a report by Bloomberg, based on a new metric co-developed by Visa, over 90% of stablecoin trading volume does not come from real users, indicating that these types of crypto tokens may be far from becoming widely used payment methods. The dashboard created by Visa and Allium Labs aims to filter out transactions initiated by bots and large-scale traders, isolating those conducted by real people. Visa stated that out of approximately $2.2 trillion in total transaction volume in April, only $149 billion came from "real-world payment activities."Visa's finding challenges the argument of stablecoin proponents that these tokens, pegged to assets like the dollar, will disrupt the $150 trillion payment industry. PayPal and Stripe are among the fintech giants venturing into stablecoins, with Stripe co-founder John Collison expressing optimism about these tokens in April due to "technological improvements."Pranav Sood, EMEA General Manager of payment platform Airwallex, commented on the data, stating: "This indicates that the development of stablecoins as a payment tool is still in a very early stage, which does not mean they lack long-term potential, as I believe they do. However, the short- and medium-term focus needs to be on ensuring that existing systems operate better."