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1/ There has been a lot of discussion lately about the potential use case of stablecoins for retail payments at merchants.
Given every stablecoin transaction is publicly visible today, what does the onchain data show?
2/ First what does retail transaction behavior at merchants look like? Across all Visa transactions over the last 12 months (through March), the average transaction size was $45.
Most people tap for a coffee, not a car.
3/ Now, if we expand that into an estimated retail spend range of $0 - $250.
What does the data show? There was a total of $48.5B of stablecoin volume over the last 12 months in this range which is < 1% of all adjusted stablecoin volume.
That’s a clear signal.
4/ While this $48.5B of volume is from retail-sized transactions, it includes stablecoins being used to deposit or withdraw into exchanges for crypto trading or transferred peer to peer between consumers. Therefore it’s likely that only a fraction of the $48.5B is being spent at merchants
5/ The reality is that today, stablecoins are being used for high value transfers, business to business and cross-border payments
Retail transactions at merchants? Still a small part of this.
6/ Direct use of stablecoins at merchants is hard:
- Limited merchant acceptance
- No consumer protections and value proposition
- Poor experience with little standardization across blockchains
7/ That’s why we believe stablecoin-linked cards are carving a clear path forward making Visa the acceptance network for stablecoins
If you hold stablecoins, you can spend at any merchant that accepts Visa. The merchant doesn’t need to change a thing
8/ Check out our updated dashboard in partnership with @AlliumLabs to track stablecoin activity including retail-sized transaction volume.
9/ Listen to our latest episode of @TokenizedPod for more insights around what we can learn from onchain data
13 tuntia sitten
🚨 Ep. 40 of @TokenizedPod: Every Bank Announced It’s Stablecoin Strategy
@cuysheffield is joined by:
➡️ @ethanyish, Co-Founder and CEO @AlliumLabs
➡️ @nlevine19, Data and Strategy @Visa
To discuss:
⛓️ Visa's approach to on-chain data and analytics
🪙 Retail payment analysis using stablecoins under $250
🥊 Differences between USDT and USDC usage in retail payments
👛 Coinbase Wallet evolution into the Base App with social features
🛠️ Future of crypto applications built on self-custodial wallets
🏦 Citi's focus on tokenized deposits and fiat services for stablecoins
🔒 Privacy and interoperability challenges with tokenized deposits
***
Timestamps:
00:00 Introduction
01:12 Visa's approach to on-chain data and analytics
04:53 Retail payment analysis using stablecoins under $250
09:21 Differences between USDT and USDC usage in retail payments
13:06 Coinbase Wallet evolution into the Base App with social features
17:25 Future of crypto applications built on self-custodial wallets
21:30 Content coins vs. NFTs and their role in social engagement
25:22 Citi's focus on tokenized deposits and fiat services for stablecoins
30:06 Privacy and interoperability challenges with tokenized deposits
32:48 Public vs. permissioned blockchains for tokenized deposits
***
👉𝘚𝘦𝘢𝘳𝘤𝘩 '𝘛𝘰𝘬𝘦𝘯𝘪𝘻𝘦𝘥 𝘗𝘰𝘥𝘤𝘢𝘴𝘵' 𝘖𝘯 𝘠𝘰𝘶𝘛𝘶𝘣𝘦. 𝘈𝘱𝘱𝘭𝘦, 𝘚𝘱𝘰𝘵𝘪𝘧𝘺 𝘰𝘳 𝘢𝘯𝘺 𝘗𝘰𝘥𝘤𝘢𝘴𝘵 𝘗𝘭𝘢𝘺𝘦𝘳! 👈
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