PANews reported on July 18 that according to CoinDesk, Visa's data partner Allium Labs has completed a $16.5 million Series A financing led by Theory Ventures, whose founder Tomasz Tunguz will join the board of directors. Kleiner Perkins and Amplify Partners also participated in the financing. Allium Labs said it has raised a total of $21.5 million and plans to invest in data infrastructure and listing plans to provide services that enable financial institutions to accept digital assets.

Allium Labs provides enterprise-level blockchain data to companies such as Visa, Stripe and Uniswap Foundation, and plans to use the funds for data infrastructure construction and market expansion. The latest data from Visa OnChain Analytics Dashboard, launched by Allium Labs in cooperation with Visa, shows that the demand for stablecoins will rebound in 2024, with a circulating supply of nearly $150 billion and 27.5 million monthly active users.