Insider Brief
- Two AI agents have successfully completed the first-ever crypto transaction without human involvement, using Coinbase’s crypto wallets.
- The AI agents exchanged “AI tokens,” marking a significant step in integrating artificial intelligence with blockchain technology.
- Coinbase CEO Brian Armstrong envisions a future where AI-to-AI transactions become a key part of the global economy, urging developers to integrate crypto payments into AI systems.
Artificial intelligent agents might not be able to walk into a bank and open up an account but now — as we moved toward the intersection of cryptocurrency and artificial intelligence — they might one day trade cryptocurrency with each other.
Coinbase CEO Brian Armstrong that two AI agents have successfully completed the first-ever crypto transaction without human involvement, according to The Defiant. The incident may mark a significant step forward in integrating AI with blockchain technology.
Thw transaction involved AI agents using crypto wallets to exchange tokens, a feat that had previously been beyond the reach of artificial intelligence.
The transaction didn’t involve the typical crypto tokens we associate with digital assets like Bitcoin or Ethereum. Instead, the AI agents exchanged “AI tokens,” which Armstrong described as “words basically from one LLM to another.” In essence, these were linguistic tokens generated by large language models (LLMs), a type of AI that processes and generates human-like text.
Armstrong highlighted the importance of this achievement, noting that AI agents have historically struggled to acquire resources because they lacked the ability to transact. Without access to traditional banking services, AI entities have been limited in their ability to interact with the financial world. However, with the advent of crypto wallets, AI agents can now participate in transactions, opening up a new realm of possibilities.
“AI agents cannot get bank accounts, but they can get crypto wallets,” Armstrong said, as reported by The Defiant. “They can now use USDC on Base to transact with humans, merchants, or other AIs. Those transactions are instant, global, and free.”
This capability allows AI to engage in financial transactions, whether it’s purchasing services or interacting with other AI agents, without the need for human intervention.
This development follows Coinbase’s earlier initiatives to integrate AI with cryptocurrency. The company had previously launched an accelerator program, distributing $15,000 in grants to projects aimed at combining AI with crypto wallets. Armstrong’s announcement suggests that these efforts are beginning to bear fruit, with the first AI-to-AI transaction serving as a proof of concept for what might be possible in the near future.
Armstrong also issued a call to action for developers working on large language models (LLMs) to explore the integration of crypto payments between AI bots. He encouraged the use of Coinbase’s multi-party computation (MPC) wallets, a technology that allows multiple parties to jointly manage and operate a crypto wallet. By leveraging MPC wallets, developers can enable AI agents to perform transactions securely and autonomously.
In a nod to the future, Armstrong speculated on the potential size of the AI-to-AI economy in the coming years.
“It turns out everyone benefits from having access to good financial services, including AIs!” he said as reported by The Defiant.
Armstrong’s vision suggests that AI agents could become significant participants in the global economy, conducting transactions with other AIs, businesses, and possibly even humans, all without direct human oversight.
This development raises intriguing possibilities for the future of AI and cryptocurrency. If AI agents can transact independently, they could revolutionize industries that rely on microtransactions, such as content creation, data processing and digital services. Additionally, businesses that sell products or services online may need to prepare for a future where AI agents are their customers, requiring adaptations in payment systems to accommodate AI-driven transactions.
Armstrong also pointed out that companies will need to adapt their e-commerce platforms to be “AI checkout enabled,” suggesting that the rise of AI as an economic entity could lead to significant changes in how businesses operate online. As AI agents gain the ability to manage financial resources and make purchases, the line between human and AI economic activity may begin to blur.
The first-ever crypto transaction between AI agents also raises questions about the broader implications for the economy, regulation and the role of AI in society. The integration with cryptocurrency could lead to the emergence of an entirely new economic ecosystem, driven by autonomous agents capable of making decisions and conducting transactions without human input. Policymakers may find this difficult to regulate because AI and crypto are areas that have historically been difficult to restrain or control.
