Experts Question Stablecoin Transaction Volume Claims Amid Comparisons to Visa

Stablecoins may be processing more transaction volume than Visa, but industry experts remain skeptical. Chamath Palihapitiya, CEO of Social Capital, recently claimed on X that weekly stablecoin transfers surpassed $400 billion—eclipsing Visa’s $319 billion in Q4 2024. A Bitwise report estimates stablecoins facilitated $13.5 trillion in total transactions last year.

Despite the eye-catching figures, analysts caution against direct comparisons. Payment giants like Visa and Mastercard settle retail purchases, while stablecoin volumes include speculative trading, arbitrage, and blockchain-native activity. "Not all transactions are equal," says one trader, noting that crypto’s on-chain mechanics inflate raw numbers.

The debate highlights growing institutional interest in digital assets. Visa and Stripe have actively integrated crypto solutions, blurring the lines between traditional finance and blockchain ecosystems. Yet transparency concerns persist—without standardized accounting, stablecoin metrics remain open to interpretation.