- Coinbase has achieved the first AI-AI cryptocurrency transaction using AI tokens on its developer platform.
- The AI agent traded AI tokens using cryptocurrency wallets, bypassing traditional finance.
- This marks a step towards an autonomous AI-based economy and AI-based checkout.
This week, the cryptocurrency world took a huge step forward when Coinbase, a leading cryptocurrency exchange, successfully completed the first AI-AI cryptocurrency trading.
Overseen by Coinbase CEO Brian Armstrong, the event represents a groundbreaking advancement in AI agents autonomously executing trades using AI tokens. This could pave the way for an AI-driven economy as AI agents perform increasingly complex tasks through cryptocurrency transactions.
Successful Crypto Trading with AI Agents at Coinbase
The transaction, which took place on the Coinbase developer platform, involved two AI agents, or bots designed to perform specific tasks, exchanging AI tokens. Essentially, AI tokens are strings of data that enable learning and task execution.
Armstrong highlighted the significance of this development in his presentation, saying, “AI is now paying other AI with cryptocurrency,” and highlighted how one AI agent uses tokens to purchase tokens from another AI agent.
This advancement is more than just a technical achievement; it represents a major step toward enabling AI agents to autonomously complete useful tasks.
Traditionally, AI agents have faced limitations because they cannot access traditional financial services such as bank accounts or credit cards. These limitations have limited their ability to perform tasks that require transactions, such as booking flights, managing advertisements, or accessing paid APIs.
But by integrating cryptocurrency wallets, AI agents can now bypass these obstacles. Using USDC on Base, a blockchain developed by Coinbase, AI agents can transact instantly, globally, and for free.
These developments open up new possibilities for AI agents to secure the resources they need to complete tasks more efficiently without human intervention.
The Future of the AI-Driven Economy
The introduction of AI-to-AI cryptocurrency trading could herald a new era in the AI-driven economy.
Armstrong has been a strong advocate of providing AI agents with cryptocurrency wallets, seeing this as essential for participating in the digital economy. He emphasized the need for AI agents to have financial capabilities, noting that “AI agents can’t get bank accounts, but they can get cryptocurrency wallets.”
Recent developments by companies like Skyfire and Biconomy further support this vision: Skyfire launched a platform that allows AI agents to spend money autonomously, while Biconomy’s Delegated Authorization Network allows AI agents to execute on-chain transactions on behalf of users.
These innovations are laying the foundation for a future where AI agents can autonomously interact with humans, merchants, and other AI agents to perform tasks ranging from routine purchases to complex tasks.
As AI technology continues to advance, integrating cryptocurrency wallets into AI models will become standard practice, allowing for a robust AI-to-AI economy. As the potential of the AI-based economy expands, businesses are encouraged to prepare for this change by adapting their services to AI-based checkouts.
In the future, AI agents will go beyond simply contributing to economic activity and actively drive global economic activity.