The U.S. crypto exchange Coinbase has completed its first transaction using artificial intelligence (AI) in the crypto world. This step is part of its effort to bring AI into the digital currency scene. Coinbase CEO Brian Armstrong shared the exciting news about this new development in a post on X.
Armstrong said that the team at CoinDev has created a system allowing AI to handle transactions using tokens. This means the AI essentially trades “words” between different large language models (LLMs).
Armstrong’s vision for crypto-powered AI
Armstrong explained that one AI bot, created to handle specific tasks, used crypto tokens to interact with another AI bot and get AI tokens in return. These AI tokens are basically pieces of data that help algorithms learn from various inputs.
He added that a major issue with AI agents today is their inability to handle transactions. Without a payment method, they struggle with simple tasks like booking plane tickets or hotels and even managing social media beyond creating content like posts and promotional ads.
AI agents can’t open bank accounts but can now have crypto wallets. Moreover, they can use USDC on Base for transactions with people, businesses, or other AIs. These transactions are instant, global, and free. This comes shortly after Armstrong suggested that large language models (LLMs) like Anthropic’s Claude and OpenAI’s ChatGPT should also have crypto wallets.
Innovations in autonomous transactions
Recent advancements have enabled AI agents to perform transactions autonomously. In August, the blockchain development company Skyfire introduced a new payment platform allowing AI agents to manage payments and execute on-chain transactions independently.
According to reports, Web3 infrastructure company Biconomy is bringing AI agents on board to handle user transactions. Aniket Jindal, co-founder of Biconomy, said that their new Delegated Authorization Network is still a fresh concept. This system adds an authorization layer that allows users to delegate their trading activities to AI agents.
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