A new report from Keyrock reveals that stablecoins are quickly becoming the primary payment method for AI agents. This shift is primarily due to traditional card systems being unable to handle the increasing number of micropayments linked to automated transactions.
Between May 2025 and April 2026, AI agents completed around 176 million transactions, settling over $73 million on blockchain networks. Although these numbers pale in comparison to Visa's staggering $14.5 trillion in annual processing, they highlight a significant change in the evolution of digital payments. The importance of this shift lies not only in transaction volume but also in the rapid development of the necessary infrastructure.
Key players in technology and finance are striving to create frameworks that support machine-to-machine payments. Companies such as Coinbase, Stripe, Google, and Visa have rolled out competing systems designed to integrate AI agents into the payment ecosystem. The idea of agentic payments involves software that autonomously handles digital service subscriptions and purchases. For example, an AI trading agent could continuously buy market data or cloud services in small amounts without needing human oversight for each transaction.
The Rise of Agentic Payments
The growth potential in this sector is considerable. Gartner predicts that AI agents could facilitate up to $15 trillion in purchases by 2028, while McKinsey estimates retail agentic commerce could reach between $3 trillion and $5 trillion by 2030. These forecasts indicate a growth path that could outpace the rapid expansion seen in the early years of stablecoins.
The infrastructure required for this growth is already underway. Coinbase's x402 protocol has become a leader, allowing AI agents to transact directly with USDC for services like analytics and cloud computing without the need for traditional accounts. Meanwhile, Stripe has launched its Machine Payments Protocol (MPP), and Google has introduced AP2, which focuses on delegated spending for AI agents. Visa has also modified its card network to support AI-driven commerce through tokenized credentials.
Economic Advantages of Crypto Rails
The economic benefits of using crypto rails for these transactions are significant. According to Keyrock's report, 76% of agent transactions fall below the typical 30-cent fee associated with card payments. Many of these payments range from one to ten cents, making traditional payment systems impractical. In contrast, stablecoin transactions on certain blockchain networks, like Base and Tempo, incur costs of just fractions of a cent.
Currently, USDC dominates the market, making up 98.6% of machine payments. This dominance reinforces Circle's position as a key player in the crypto payment space but raises concerns about the risks associated with reliance on a single stablecoin issuer.
Regulatory Considerations
As the market evolves, new regulatory frameworks are emerging that could influence the growth of AI-driven payments. The EU's Markets in Crypto-Assets Regulation (MiCA), the U.S. GENIUS Act, and the EU AI Act are all set to be implemented around mid-2026, but none specifically address the complexities of autonomous machine-to-machine transactions or liability issues related to AI agents. This regulatory uncertainty may present challenges for the developing sector.
While the AI agent payment market is still in its early stages, the swift establishment of crypto infrastructure and the increasing adoption of stablecoins suggest a significant transformation is on the horizon. As companies continue to innovate and adapt, the future of automated transactions appears promising, though regulatory hurdles will need to be addressed.
The stories that move AI & crypto markets — before the market reacts.
Free. 7am ET. Five stories. 62,400 readers.
