Coinbase CEO Brian Armstrong has publicly opposed crypto companies repackaging themselves as AI companies. He believes that blockchain is not a separate arena from AI, but rather a general-purpose infrastructure supporting the operation of future automated systems.
Coinbase betting agent payment
According to Armstrong, Coinbase hopes to build an ecosystem around so-called "Agentic Finance" that allows AI agents to handle transactions, payments, and receipts like software services.
- x402 protocol as a payment connection layer
- Base serves as the on-chain execution network.
- USDC is used for real-time settlement and payment.
The report mentions that Coinbase launched AI agent accounts for trading and spending in June. Last week, the company further stated that Coinbase Business users will be able to receive AI agent payments via x402.
Blockchain is considered an underlying infrastructure
Armstrong stated at X that encryption and AI are not an "either/or" choice. In his view, in the future, more daily transactions will be initiated by software agents than by humans, and traditional bank accounts and wire transfer systems will struggle to meet the demands of real-time machine interaction.
Therefore, he likens encrypted networks to electricity or the internet, believing they are better suited to serve as the payment and settlement foundation for the AI era. This is also the main reason he opposes some encrypted companies changing their names and directions under the guise of the AI boom.
Industry support and risks coexist
Supporters argue that if AI agents are to complete payments at machine speeds, the existing financial and technology stacks will need to be upgraded accordingly. Tory Green, CEO of io.net, stated that the current system is primarily designed around human interaction, and funds are only the first layer that needs updating.
However, some developers have cautioned that allowing unverified autonomous agents to directly control funds poses significant counterparty risk. NeoSoul AI believes that for AI agent economies to expand their applications, a trust and memory layer needs to be added; wallets should not be handed over directly to code with no historical record.
Additional information:The Wall Street Journal mentioned in April this year that the phenomenon of companies chasing the AI concept is similar to the renaming trend of the Internet and blockchain in the early years. The short-term stock price fluctuations brought about by popular concepts do not necessarily mean that the business structure has changed.
