V - Only 10% Of Stablecoin Transaction Volumes In April Originated From 'Organic Payments Activity' | Benzinga
A study conducted by Visa (NYSE:V) and Allium Labs unveiled that more than 90% of stablecoin transactions are not genuine, raising questions on the digital tokens' belief.
What Happened: According to the dashboard created by Visa and Allium Labs, stablecoins are far from achieving universal acceptance as a payment method. The study’s metric, which filters out transactions initiated by bots and large-scale traders, showed that of the $2.2 trillion total transactions in April, only $149 billion were "organic payments activity", as reported by The Business Times.
These findings are contradictory to the claims of stablecoin advocates, including fintech heavyweights like PayPal (NASDAQ:PYPL) and Stripe, who are making substantial progress in the stablecoin arena.
Pranav Sood, executive general ...