Visa's Head of Encryption: TRON Network Payment Data Has Long Been Leading the Ethereum Ecosystem

Author: Cuy Sheffield, Head of Crypto at Visa

Compiled by: czgsws, BlockBeats

Since the beginning of this year, global payment giant Visa has been promoting the development of its crypto payment business. The crypto financial application Nebeus issued the first Visa-supported debit card in January. Subsequently, the digital payment platform Wirex and the crypto payment service provider Alchemy Pay announced their partnership with Visa. The OKEx Web3 wallet also announced on February 21 this year that it supports purchasing digital currencies via Visa cards.

Visa's crypto head Cuy Sheffield spoke at StarkWare Sessions 2023, stating that the company is developing a USDC large payment settlement system based on Ethereum. However, his latest remarks on social media revealed optimism about the Tron network. BlockBeats has compiled his statements as follows:

Here is the original text

I have been researching some on-chain data related to the adoption of stablecoins in retail payment use cases and have made some surprising discoveries.

Looking at daily on-chain payment data with amounts set to less than $200, we can see some interesting data from leading blockchain payment networks.

Tron's dominance may surprise some Westerners, but it seems that Tron has been widely adopted in emerging markets.

（Comparison of ERC20 and TRC20 in Google Trends）

Upon further investigation of monthly active users, we find that the advantages of TRC20 become even more apparent.

This scale of on-chain activity growth trend was also mentioned by Messari in their Q4 2022 Tron Status Report, noting that the number of new daily active accounts on the Tron network surged to 1.3 million on December 10.

However, while focusing on growth, the rapid expansion and activity of ETH Layer 2 cannot be overlooked. On these chains, the number of active users sending stablecoin payments monthly has increased by over 500% year-on-year.

This is a fascinating moment for this field, and we are still in the early stages of adopting stablecoin payments, so I am excited to see how it develops in the coming years.