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Coinbase Introduces AiFi Financial System with Over 205 Million Transactions Processed
Coinbase has launched a new financial system called AiFi, which focuses on facilitating financial operations for AI agents. This system, referred to as agent finance, includes functionalities for agent trading and commerce, enabling AI agents to perform essential financial tasks such as payments, receipts, and fund transfers on behalf of users and businesses. Coinbase aims to provide tools that allow these agents to operate within set goals and security parameters.
The AiFi infrastructure is supported by several Coinbase services, including Coinbase Advisor, which offers investment guidance through a chat interface for Coinbase One users, and Coinbase for Agents, which connects AI tools like Claude and ChatGPT to Coinbase accounts. Additionally, x402, an open payment standard initiated by Coinbase, has processed over 205 million transactions, amounting to a transaction volume of $53 million, and serves around 200,000 sellers, with Coinbase facilitating 67% of these activities.
Coinbase Business is designed to assist enterprises in receiving payments from AI agents in USDC, allowing merchants to sell services and content without traditional payment methods. Currently, USDC accounts for 99% of on-chain agent commerce transactions, while x402 represents 97% of the usage of the agent finance protocol, with operations taking place on the Base network.
Source: KLEA News