According to Visa's analysis, of the $2.2 trillion in total transaction volume in April, only $149 billion was attributed to "real-world payment activities." This statistic challenges the narrative that stablecoins, which are pegged to assets like the U.S. dollar, are close to revolutionizing the $150 trillion payments industry. Despite the enthusiasm from fintech giants like PayPal and Stripe, with Stripe's co-founder John Collison expressing optimism in April due to "technological improvements," the data suggests that stablecoins are still in their infancy regarding their role as payment tools.