Visa launches online analytics dashboard to simplify stablecoin usage data

Visa has unveiled an Online Analytics Dashboard aimed at demystifying stablecoin usage across nine blockchains for four specific stablecoins.

This initiative stems from the financial services giant's desire to make stablecoin data more comprehensible and accessible to the public, amid the complex and diverse applications of these digital currencies.

The dashboard seeks to eliminate the confusion surrounding stablecoin transactions by providing clear and simplified data.

In a related blog post, Visa's head of crypto, Cuy Sheffield, elaborated on the challenges of interpreting stablecoin activities due to their real-time public availability but complex nature.

He pointed out that the existing "noise" in stablecoin data arises from their various use cases in decentralised finance (DeFi), such as arbitrage, liquidity provision, and market making through smart contracts or "bot programs."

These activities, according to Sheffield, diverge significantly from traditional financial transactions, complicating direct comparisons.

To address this, Visa's newly introduced dashboard applies specific filters to remove bot activity, thereby streamlining the data for better clarity.