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Il Coinbase Institute è la fonte più affidabile di ricerca sulle politiche della criptoeconomia globale. Il nostro lavoro supporta politiche solide, fa progredire l'innovazione e aiuta a promuovere la libertà economica a livello globale.
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Machine-to-machine payments
in the AiFi era
The internet is acquiring a second customer: software that retrieves, compares, and increasingly transacts on a person’s behalf. These agents do not watch ads and may have no billing relationship with the services they use. As AI systems crawl to answer rather than to refer, the bargain that financed the open web is breaking down. Publishers, developers, and data providers need a way to charge for each use, including transactions worth a fraction of a cent. This paper explains why legacy payment rails struggle to serve that market economically, why stablecoins on low-cost networks are the strongest fit available today, and how policymakers can help agentic commerce develop on open, interoperable standards rather than inside proprietary marketplaces.
October 7, 2026
Read time: 3 min (executive summary) - 35 min (whole document)
Stablecoins in emerging markets:
Opportunities and challenges
Stablecoins are a foundational payment innovation, not an incremental one. For emerging markets and developing economies (EMDEs), the potential payoff is large. EMDEs also face distinct risks and challenges in adopting this innovation. This paper maps the opportunity that wider adoption could bring in agentic commerce, tokenization, smart contracting, cross-border remittances, and competition in financial markets; weighs the risks and challenges that come with it; sets out a regulatory blueprint to manage them; and closes with country-specific analysis of India, Brazil, and Indonesia.
Machine-to-machine payments in the AiFi era
The internet is acquiring a second customer: software that retrieves, compares, and increasingly transacts on a person’s behalf. These agents do not watch ads and may have no billing relationship with the services they use. As AI systems crawl to answer rather than to refer, the bargain that financed the open web is breaking down. Publishers, developers, and data providers need a way to charge for each use, including transactions worth a fraction of a cent. This paper explains why legacy payment rails struggle to serve that market economically, why stablecoins on low-cost networks are the strongest fit available today, and how policymakers can help agentic commerce develop on open, interoperable standards rather than inside proprietary marketplaces.
L'attività di sensibilizzazione di Coinbase
Scopri di più su cosa sta facendo Coinbase per collaborare con le autorità di regolamentazione di tutto il mondo e partecipa alla conversazione per plasmare il futuro della finanza.
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Il nostro impegno con i regolatori statunitensi e il Congresso, comprese le testimonianze nelle audizioni e le risposte alle consultazioni.
Internazionale
Le nostre risposte ai regolatori globali sulle norme e politiche proposte per le criptovalute.
Policy Blog
Prospettive stimolanti sulle ultime tendenze e sviluppi nella politica sulle criptovalute.
Users in four states have missed out on an estimated $100M+ in less than two years
Regulators in California, New Jersey, Maryland, and Wisconsin issued misguided cease-and-desist orders in June 2023 prohibiting Coinbase users from staking additional assets. Coinbase is permitted to offer its staking services in nearly every other state. Users in these four states should be permitted to stake, too.
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Coinbase collabora con Stand with Crypto Alliance, un movimento indipendente di 52 milioni di americani che chiede ai decisori politici regolamenti sensati per le cripto. La nostra forza sono i numeri. Unisciti a noi per difendere il futuro delle cripto.