Visa has unveiled a fresh stablecoin analytics dashboard aimed at simplifying the intricate world of data by presenting straightforward information about four stablecoins utilized across nine blockchains. Cuy Sheffield, Visa's crypto leader, emphasized in a recent blog post the importance of analyzing stablecoin data to draw meaningful comparisons with traditional financial systems. The diverse uses of stablecoins, particularly in decentralized finance (DeFi), involving activities like arbitrage, liquidity provision, and market making, contribute to the variability in their metrics, setting them apart from conventional settlement functions.

To enhance data accuracy, Visa has implemented measures to filter out bot-generated data and applied a basic heuristic to eliminate non-organic activity, resulting in an adjusted transaction volume for the past 30 days from $2.65 trillion to $265 billion. Sheffield highlighted in a subsequent post that stablecoin transactions are accounted for differently compared to traditional transactions, citing an example where a $100 USDC to PYUSD swap on Uniswap is recorded as $200 in total stablecoin volume due to the movement of funds between wallets and contracts.

The Visa analytics platform treats such transactions as $100 in volume and provides users with visual representations through charts and graphs detailing supply, transactions, and user statistics for USD Coin USDC, Tether USDT, PayPal USD PYUSD, and Pax Dollar (USDP). Notably, the data excludes off-chain activities involving these stablecoins. Visa's involvement in various cryptocurrency and blockchain initiatives includes advocating for public blockchain network adoption and stablecoin-based payments, with prior transaction processing using USDC.

Furthermore, Visa has collaborated with Transak to facilitate crypto withdrawals in more than 145 countries, showcasing its commitment to expanding access to digital assets globally. This strategic partnership aligns with Visa's broader efforts to embrace and support the evolving landscape of digital currencies and blockchain technologies.