Yat Siu says Asia may lead in linking AI with blockchain

Animoca Brands cofounder Yat Siu says Asia is likely to connect artificial intelligence and blockchain faster than Europe and the U.S., arguing the region has fewer cultural objections to money in digital systems. His view points to a growing fight over the payment rails that could allow AI agents to spend, negotiate and settle transactions for users.

Siu, chairman of the Hong Kong-based digital asset company, made the comments to Fortune at the SuperAI summit in Singapore. He said crypto communities he has encountered in Europe and the U.S. often treat AI and crypto as separate fields, while Asian markets are more at ease with commercial uses of digital assets.

According to Fortune, Siu framed the divide partly as a Western political and cultural split over capitalism. He argued that Asia’s more practical stance toward money could help the region move faster in combining AI tools with blockchain systems.

Animoca’s shift into Web3

Siu cofounded Animoca Brands in 2014, Fortune reported. The company began with free-to-play mobile games, then moved into blockchain gaming and NFTs in 2018.

Animoca has also become a major Web3 investor. Fortune reported that the firm has backed more than 600 AI and blockchain companies, including China-based GROW Digital Wealth and AWARP, the parent company of the Laos National Digital Technology Group.

The market backdrop has changed sharply. Fortune reported that investor appetite for crypto has cooled, with shares of crypto-linked companies dropping by double-digit percentages over the past 12 months, while AI-related stocks have surged.

Crypto investors have been reacting to that shift. The Wall Street Journal has reported that Paradigm, a crypto-focused venture capital firm, has been expanding into AI and robotics investments.

AI agents and payments

Siu told Fortune that AI and blockchain are closely linked because autonomous software needs access to money if it is going to act on behalf of users. He argued that blockchain can provide a secure and scalable way for AI agents to transact.

Payment companies are already moving into related products, Fortune reported. Visa, Mastercard and Stripe have begun supporting stablecoin payments while also building systems that let AI agents find and buy goods for users.

Crypto exchanges are also working on agent payments. Fortune reported that Coinbase has made it easier for AI agents to carry out cryptocurrency transactions.

Stablecoins remain small compared with established payment systems. Fortune reported that Visa handles about $7 billion in annual cryptocurrency settlements on its platform, compared with $14 trillion in total settlements.

Siu told Fortune he expects the number of AI agents to reach as many as 200 billion. He said he already uses 280 agents for different tasks, and expects agents to handle both commercial dealings and some social interactions.

He also questioned whether card networks will keep their position if blockchain payments become cheaper for AI-to-AI transactions. Siu told Fortune that agents will favor payment methods that are faster and cheaper, and he contrasted a card fee of 2.5% with low-cost on-chain transactions.

This story draws on original reporting from Fortune.