90% of stablecoin transaction volumes may not be from genuine users, according to a Visa-Allium Labs metric.

90% of stablecoin transaction volumes are likely not from genuine users, according to a metric co-developed by Visa Inc. and Allium Labs. This raises concerns over their widespread adoption as a means of payment. Out of approximately $2.2 trillion in total stablecoin transactions in April, only $149 billion were deemed to come from "organic payments activity," suggesting stablecoins may still be far from becoming a common form of payment.