Just In: Google Teams With Coinbase to Launch AI Payments Protocol

TLDR:

• Google unveiled a new open-source payments protocol that supports credit cards and stablecoins for AI-driven transactions.
• Coinbase and the Ethereum Foundation worked with Google to build interoperability into the new AI payments framework.
• Over 60 companies, including Salesforce and American Express, joined in shaping the AI payments standard.
• The protocol is designed for secure agent-to-agent transactions, ensuring value is transferred exactly as intended.

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AI might soon be sending money without you touching a thing. Google just rolled out a new open-source payments system built for that future. It supports regular cards and stablecoins. It is designed to let AI apps pay each other safely and instantly. 

Big tech and crypto are teaming up to make this work. And it could change how value moves online.

Coinbase, Ethereum Foundation Join Google’s Effort

According to Fortune, Google developed this payments protocol with Coinbase and the Ethereum Foundation to support crypto integration. Stablecoins like USDC are included alongside credit and debit cards, making the system flexible for different payment types.

James Tromans, Google Cloud’s head of Web3, explained that the protocol was built from scratch to combine existing payment rails with new ones. He said this helps AI systems handle payments that humans expect to be reliable and secure.

Coinbase ensured that its own AI and crypto payments scheme worked smoothly with Google’s new framework. Erik Reppel, head of engineering at Coinbase’s developer platform, said the goal was to make sure AI can send value across different systems seamlessly.

More than 60 other firms were involved in shaping the protocol, including Salesforce, American Express, and Etsy. Their input helped create a standard that works across industries and use cases.

AI Agents Set for Financial Transactions

The launch builds on an earlier Google project from April that standardized how AI agents communicate. The new release adds a layer for secure transactions, making it possible for agents to complete financial actions without human input.

These agents can already write code or browse online marketplaces, and now they could buy goods or pay for services on their own. Tech executives predict that AI-to-AI interactions will soon become common, with no manual steps needed.

Google’s update is meant to guarantee that such payments match what users intended when they set up their AI agents. This could allow AI personal shoppers to complete purchases directly or even AI financial advisors to secure mortgages.

The combination of credit card rails and crypto support makes the protocol adaptable for global users. With both tech and financial giants backing it, adoption could accelerate across different platforms quickly.

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