Allium Labs, a blockchain data provider, has raised $16.5 million in a Series A funding round led by Theory Ventures. The company plans to use the funds to invest in data infrastructure and offer services that will allow financial institutions to embrace digital assets. Allium Labs has previously partnered with Visa to create the Visa OnChain Analytics Dashboard, which provides insights into stablecoin activity. The latest findings show that demand for stablecoins has picked back up in 2024, with circulating supply approaching $150 billion, and there is steady growth of monthly active stablecoin users, with 27.5 million monthly active users across all chains.