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Coinbase has introduced a new cryptocurrency wallet system designed to enable artificial intelligence agents to independently handle spending, earning, and trading digital assets on blockchain networks.
Developers Erik Reppel and Josh Nickerson announced the Agentic Wallets functionality in a blog post published on Wednesday, explaining that it extends the capabilities of existing AI agents. These programs currently offer advice, such as responding to queries or organizing information, but lack the ability to carry out financial transactions for users.
The initiative positions future AI agents as active participants in the digital economy, the developers noted. They could oversee decentralized finance holdings, adjust investment allocations, cover costs for computing resources and application programming interfaces, and engage in content creation markets.
This development expands upon Coinbase’s AgentKit, a toolkit unveiled in November 2024 that integrates wallets directly into AI systems. The agents conduct operations through the company’s x402 payment standard, tailored for automated AI applications and already processing 50 million transactions.
Using x402, AI agents can secure API access, procure processing power, tap into specialized data feeds, and arrange data storage without human oversight, fostering independent machine-based economic systems, according to Reppel and Nickerson.
The technology supports activity on Base, Coinbase’s Ethereum layer-2 solution, allowing agents to oversee assets and pursue strategies across various platforms. For instance, an agent could track interest rates among lending protocols, perform trades on Base, and oversee cash flow positions around the clock. If it identifies a superior return option in the early hours, it could shift funds automatically, provided prior authorizations are in place.
On the same day, Lightning Labs, the organization maintaining the Bitcoin layer-2 Lightning Network, unveiled software that permits AI agents to conduct transactions via the L402 protocol. These agents can also operate a Lightning node and oversee a wallet holding bitcoin without needing control over the private keys.
Separately, Kris Marszalek, chief executive of Crypto.com, debuted the ai.com platform on Monday, empowering users to build customized AI agents for routine activities. These include handling correspondence, arranging appointments, terminating services, completing purchases, and organizing travel.
Prominent figures in the cryptocurrency sector express optimism about the rise of such autonomous AI. Jeremy Allaire, head of stablecoin provider Circle, forecasted on January 22 that billions of AI agents would rely on cryptocurrencies and stablecoins for routine payments on users’ behalf within three to five years.
Changpeng Zhao, formerly of Binance, echoed this sentiment, asserting that digital assets would serve as the primary medium for AI agents and handle tasks ranging from ticket acquisitions to settling dining tabs.
Beyond the crypto space, Google rolled out the Universal Commerce Protocol on January 11 to support AI-driven shopping experiences. The system leverages the company’s Agent Payment Protocol 2 to manage transfers autonomously, with Google Pay acting as the standard method for U.S. dollar dealings, as detailed in a company announcement.
