The total value settled through stablecoins last year approached that of Visa's $11.6 trillion figure.
Comparing apples and socks, not even oranges!
Those settlements you and the author talk about are the sum of moved coins, that's the lamest indicator of all, I can move $1000 from my exchange account to my address, then split it in $500, see a dip on the market move back to an exchange and there you have it, $2500 of volume without "settling a thing".
Visa is strictly for payments, you go buy a can of soda you pay, and the money leaves one person's account and ends up in another, with coins, it can be none, even if we compare it with banking volume, which even for Europe alone stands at 800 billion a day, that's 30x all the volume of stablecoins transaction and it's still not a fair comparison.
Tron has 1700000 transactions a day, Visa has 150 million a day, roughly as much as all USDT trasnctosn on eth history!
What value stablecoins settle? Go to any supermarket in the world and you'll see people paying with Visa or Mastecard every single minute. But where are the stablecoin payments? I never encountered a business, even a small one, that accepts stablecoins.
My guess is that most of the activity on stablecoin network is speculative trading, especially by bots. If someone shut down stablecoins tomorrow, the world wouldn't notice. If someone shut down Visa tomorrow, that would be Armageddon.
The funny part is that Visa shutting down would kill a ton of so-called crypto cards, including Binance, thus cutting a huge chunk of stable coins' usefulness. As for the supermarket stuff, yeah, I haven't managed to get close to 100:1 when it comes to Visa vs
BTC , when it's Vis vs stablecoins is 1000:0.