Stablecoin players build rails for AI-driven commerce

Payments companies and stablecoin issuers are putting new infrastructure in place for commerce carried out by AI agents, according to Fortune. The push matters for companies because automated buying and selling would require payment systems that can handle speed, compliance and accuracy without conventional human steps.

Fortune’s CEO Daily framed the shift as part of an emerging “agentic economy,” coming a year after passage of the GENIUS Act. The newsletter said new stablecoins, platforms and partnerships are beginning to show how the financial system for agent-led transactions may develop.

Circle CEO Jeremy Allaire laid out one vision for that system in an 18,500-word paper titled The Agentic Economy, according to Fortune. Allaire argued that if AI becomes a core system for intelligence, blockchain could serve a similar role for economic activity.

Allaire’s case centers on Circle’s USDC, which Fortune described as a regulated stablecoin redeemable one-for-one for U.S. dollars. Fortune also reported that Circle has received approval to establish a federally regulated national trust bank.

Stablecoins move beyond single issuers

Fortune pointed to Tether as one of the best-known stablecoin issuers, while noting that new models are appearing. One example is Open Standard, which Fortune said is working with Stripe, Visa, BlackRock and about 140 other companies on a stablecoin called Open USD.

Under that model, Fortune reported, reserve income would be shared with partners rather than captured by a single issuer. Partners would also be able to mint and redeem tokens without fees, according to the newsletter.

Fortune said consumer brands such as Walmart, Amazon and Starbucks could have a reason to consider their own stablecoins: lower transaction costs. The newsletter said such coins could help merchants avoid credit card fees and settle payments securely at a lower cost.

Card networks and bank systems respond

Visa is also positioning itself for the shift. On the company’s second-quarter earnings call last week, CEO Ryan McInerney said agentic commerce would expand Visa’s addressable market, while stablecoins and blockchain presented significant growth opportunities, according to Fortune.

Fortune reported that Visa launched a platform last week to offer stablecoin services to more than 200 million merchants. SWIFT, the network connecting more than 11,500 financial institutions, now has a blockchain-based ledger, according to the same report.

Circle is trying to build across several layers of the system, Fortune said. Allaire has described a platform that ranges from open-source Arc blockchain infrastructure to nanopayments for AI agents and compliance tools.

Fortune said the likely winners are still unclear as payments companies, stablecoin issuers and financial networks test new currencies and platforms. The report pointed to Stripe’s bid to buy PayPal as another sign that companies are seeking stronger positions as agent-led commerce develops.

This story draws on original reporting from Fortune.