AI agents processed 165 million payments using USDC through Coinbase's x402

Autonomous artificial intelligence agents promote the transformation of digital payments

Autonomous artificial intelligence agents are increasingly conducting online transactions directly, thereby changing the landscape of digital commerce. These software programs can independently gain access to computing resources, datasets, and APIs, and complete operations by sending and receiving payments without requiring manual authorization for each transaction.

Coinbase's x402 protocol is at the forefront

Coinbase, the leading U.S. cryptocurrency exchange, has developed x402, a payment protocol specifically designed for machine-to-machine transactions. The protocol acts as an automated pay wall, allowing AI agents to submit requests, obtain quotes, complete payments, and immediately access needed digital services or data. This process eliminates the need for traditional account creation or manual entry of payment information.

Data released by Coinbase shows that x402 has processed more than 165 million payments, with a total transaction volume exceeding US$50 million. About 99% of these transactions are conducted using USDC, a widely used fiat currency-backed stablecoin.

Lincoln Moore, head of AI products at Coinbase, pointed out that a typical transaction amount is about 30 cents, most of which is used for API uses, such as software-to-software requests or data access.

By simplifying the way AI proxy payment services, x402 is promoting a rapidly growing market where autonomous systems can interact and trade seamlessly.

stablecoins optimize AI-driven micropayments

Stable coins bring significant advantages to AI-driven payment processes. They are available around the clock, have no borders and have low fees, making them more suitable than traditional card-based payment systems, which typically charge a service fee of 2% to 4%, which is too high for transactions initiated by AI agents for less than $1.

Cloudflare, a global network performance and security company, is building a wallet infrastructure specifically designed for AI scenarios. Its upcoming product allows operators to set expenditure limits and supplier approvals before agents conduct transactions, similar to the control features of corporate credit cards .

Circle, the issuer of USDC, is piloting micro-transaction products, with instant confirmation of payments and batch processing of blockchain settlements to improve efficiency. MoonPay, a financial technology company that focuses on cryptocurrency payments, has launched PayBox, allowing agents to make payments using traditional cards or cryptocurrency based on merchant preferences.

Small Dictionary: Circle is a financial services company focusing on blockchain technology and is famous for issuing USDC stablecoins.

Traditional payment networks respond

Major payment companies are exploring how to compete in this emerging space. MasterCard is launching a pilot project called "Machine Proxy Payment" that uses digital payment methods based on vouchers. During this process, the operator determines transaction rules and spending caps, and the merchant verifies the purchase conditions before redeeming payment vouchers. Merchants can choose to settle transactions in legal currency or stablecoin to accommodate different preferences in the payment chain.

Visa, another global payments giant, has partnered with DBS Bank on a pilot where AI agents purchase food and beverages through standard credit card channels. Both sides are studying more application scenarios such as online shopping and travel.

Provider plan main payment method status Coinbaseex 402 agreement USDC is active, with more than 165 million transactions Mastercard machine agent payment fiat/stablecoin pilot phase Visa and DBS AI agent purchase pilot Traditional Credit card Pilot phase The ecosystem is still in its early stages

Although agent-led payments are growing rapidly, But industry leaders believe the market is still in its infancy. Coinbase's Moore compares it to early peer-to-peer sharing platforms such as Napster, pointing to the current lack of mature regulatory and standardization practices.

In July, x402 recorded approximately US$24 million in transactions in 30 days, while Visa could process that figure in a minute through its global network. Analysts believe that the total trading volume of x402 includes internal testing and operational use.

Wallet funding issues remain a challenge in attracting new users or machines to get started. Coinbase is developing solutions that allow agents to independently obtain wallet functionality, further reducing friction in the process.

This emerging field is characterized by high-frequency, low-value micropayments, thanks to technological advances in cryptocurrencies and payment infrastructure, but wider adoption will depend on regulatory clarity and continued innovation by major fintech players.