Apr 26, 2024

Visa launched a stablecoin dashboard that shows the outstanding supply of fiat-backed tokens at an all-time high, with Tether’s USDT dominating.

Video transcript

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. Visa launched a stablecoin dashboard that shows the outstanding supply of fiat back tokens at an all time high with tether's us DT dominating in Noel Acheson's cryptos macro now newsletter. She notes an interesting twist transaction volume in US DC is higher than in US DT. She says that this could be because US DT is more held outside of the United States as a dollar based store of value. While US DC is used in the US as a transaction currency. Another takeaway from this data P and paypal's stablecoin transaction volumes are still negligible. Acheson says, quote, remember when Py US D launched how paypal's brand name and extensive network would make the token arrival of us DC. Well, it turns out that getting transaction is harder than it seems, especially if users tend to distrust paypal's political neutrality and quote. That's it for today's chart of the day. I'm Jen Sasi. We'll see you next time to unpack more of the data behind top news stories.

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