# Сопутствующие статьи по теме Stablecoins

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Stablecoins", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Research Status Report on AI Payment Protocols: The New Paradigm of Payment in the Agent Economy

AI Payment Protocol Research Status Report: A New Paradigm for Agent Economy Payments This report analyzes the rapid evolution of payment infrastructure designed for AI agents, driven by major industry moves from OpenAI, Google, Visa, Mastercard, Coinbase, and Stripe between late 2025 and early 2026. The core challenge is that traditional payment systems, built for human interaction, are incompatible with AI agents that require machine-readable interfaces, millisecond authorizations, and support for high-frequency micro-transactions. The emerging infrastructure is forming a two-layer architecture: 1. **Intent Orchestration Layer:** Translates agent intent into executable transactions. Two key segments exist: * **Agent Shopping for Humans:** Focuses on enabling agents to shop on human-centric e-commerce platforms. Protocols include OpenAI & Stripe's closed **Agentic Commerce Protocol (ACP)** and Google's open **Universal Commerce Protocol (UCP)** for standardized merchant interfaces. * **Agent-to-Agent (A2A) Transactions:** Solves trust issues in environments without human merchants, using blockchain-based smart contracts like **ERC-8183** for task execution and payment escrow. 2. **Settlement Layer:** Handles the actual movement of funds. Key competing protocols include: * **Stripe's SPT & Card Network Upgrades (Visa/Mastercard):** Extend existing card payments with delegated authorization tokens, ideal for standard retail but unsuitable for micro-payments. * **Coinbase's x402:** Uses the HTTP 402 status code for on-chain atomic swaps with stablecoins (e.g., USDC), enabling low-fee, account-less payments. * **Circle's Nanopayments:** An x402 enhancement for extreme micro-payments using off-chain batch processing. * **MPP (Stripe & Tempo):** A unified, pluggable framework supporting multiple payment rails (stablecoins, fiat, card tokens, Lightning Network) within a single "payment session." **Current State & Opportunities:** While core protocols are live, commercial adoption lags due to fragmentation in the intent layer. The key opportunities are: * **Settlement Layer:** Building multi-rail Agent wallets that abstract complexity and can route transactions across different payment protocols is a definitive, high-value opportunity. * **A2A Economy:** A significant blue-ocean opportunity exists in creating API services for agents to consume (e.g., data analysis, content creation) on a pay-per-use model (e.g., via HTTP 402), moving beyond subscription models. The future will see a dual-track evolution: consumer-facing agent commerce relying on card rails, and A2A transactions thriving on stablecoin rails. The inflection point will be when enterprises delegate spending authority to agents, making multi-rail wallets and service directories critical, unclaimed infrastructure.

marsbit03/31 14:46

Research Status Report on AI Payment Protocols: The New Paradigm of Payment in the Agent Economy

marsbit03/31 14:46

Blockchain Games Defeated by Reality, Web3 Doesn't Believe in Dreams

The article "Chain Games Succumb to Reality, Web3 Doesn't Believe in Dreams" discusses the significant downturn in the perceived failure of blockchain gaming. It begins with Solana Foundation President Lily Liu declaring that "blockchain games are dead," a sentiment echoed by Meta's abandonment of its metaverse vision after an $80 billion investment, which shared core concepts with Web3 gaming like virtual worlds and digital asset ownership. Numerous high-profile blockchain games have shut down recently. Examples include "Pirate Nation," which closed after raising $33 million, and others like "Ember Sword," "Nyan Heroes," and "Symbiogenesis," all ceasing operations due to funding shortages or failed token economies. Even well-funded projects like "Wildcard," backed by $46 million from Paradigm, saw their tokens crash shortly after launch. A central issue is misaligned incentives: Web3 games were often funded by investors seeking returns, not players seeking quality gameplay. This led to capital structures driven by speculation rather than sustainable user engagement. Many studios, like Oxalis Games with "Moonfrost," eventually abandoned blockchain elements to release traditional games on platforms like Steam, leaving early investors and NFT holders with losses. Industry reports note a dramatic drop in investment, from peaks of $10 billion in 2022 to just $293 million in 2025, with scams and loss of trust becoming major concerns. Despite the downturn, some industry leaders remain optimistic. They argue for a reset focused on making blockchain invisible to users, prioritizing player retention metrics (like D1, D7, D30 rates) over token prices, using stablecoins for payments to reduce volatility, and leveraging AI to lower development costs. The consensus is that successful games must first meet traditional quality standards, with blockchain providing underlying utility like true asset ownership and open economies—not driving the core experience. The cycle of fundraise, token launch, and collapse may be ending, making way for more sustainable models.

marsbit03/31 13:26

Blockchain Games Defeated by Reality, Web3 Doesn't Believe in Dreams

marsbit03/31 13:26

AI Agents Are About to Take Market Share from Visa

Artificial intelligence agents are poised to disrupt Visa's business model by bypassing the traditional credit card interchange fee structure. Unlike humans, AI agents are purely rational: they don't accumulate rewards, seek fraud protection, or desire premium cards. Their sole objective is to complete transactions at the lowest cost, fastest speed, and with minimal fees. This shift threatens the 2-3% interchange fees that underpin Visa’s $500 billion valuation, as these fees essentially tax human irrationality—something agents lack. Recent developments, such as the launch of Tempo (a high-volume stablecoin settlement blockchain), the Machine Payment Protocol (enabling autonomous micro-payments), and Visa’s own command-line payment tool for AI, indicate a rapid move toward agent-driven commerce. While current transaction volumes remain small, infrastructure is being built to support machine-to-machine payments that avoid card networks. Major players like Stripe, Mastercard, and Circle are investing heavily in this space. Visa network’s distribution advantage relies on human behavior—consumer trust and merchant acceptance—a cycle that doesn’t apply to agents. They optimize for efficiency, not brand loyalty. Although widespread consumer adoption is still emerging, the infrastructure for agent-commerce is advancing quickly, starting with micro-payments for AI services. The fundamental challenge is that interchange fees are a tax on human psychology, and agents are purely rational actors.

marsbit03/31 11:14

AI Agents Are About to Take Market Share from Visa

marsbit03/31 11:14

The Time of Machines: When Agents Consume Stablecoins

"The Age of Machines: When Agents Consume Stablecoins" explores the convergence of AI and cryptocurrency, focusing on the emerging narrative of AI agents as economic actors. The author argues that while AI is rapidly advancing into production and consumption, crypto, particularly stablecoins, is struggling to find its role beyond financialization. The piece begins by reflecting on how AI-powered bots are evolving from nuisances to become autonomous economic entities, potentially even developing a "dislike" for humans. This shift creates a sense of desperation in the crypto community, which is now trying to prove its value to AI by promoting stablecoins as the preferred medium of exchange for agents. A core tension is highlighted: AI is mastering both production and the new "relations of production" by replacing human labor, while crypto remains confined to a narrow financial role. Previous attempts by crypto to capture AI use cases—through decentralized storage, compute, or GPU lending—have largely failed. The author warns that compliant, bank-issued stablecoins on networks like Canton could ultimately prevail over native crypto stablecoins. The emergence of payment protocols for machines, like Stripe's MPP, is noted, but these efforts are seen as integrating machines into the existing traditional financial system rather than creating a new crypto-native one. The crypto industry's strategy of selling stablecoins to AI based on technical merits like cheapness and speed is portrayed as a weak, last-resort effort. The article then pivots to a more promising path for crypto: leveraging volatility. The true potential lies in AI agent economy's ability to generate massive, 24/7 consumption that far surpasses human limits. This creates a new battlefield for crypto—not by providing utility to AI, but by creating speculative assets (Crypto Tokens) that capture the value and FOMO generated by the AI boom (AI Tokens). The ultimate goal should be converting the immense economic activity of AI agents into liquidity for crypto assets. The conclusion states that while Circle's vision of agents using stablecoins offers a story of infinite users to the market, crypto's real strength is its position as a financial laboratory on the frontier, thriving on ambiguity and speculation. The future of the convergence depends on crypto creating volatility and wealth effects from the stable foundation of agent-driven consumption, ultimately completing the cycle from AI Token back to Crypto Token.

marsbit03/30 07:38

The Time of Machines: When Agents Consume Stablecoins

marsbit03/30 07:38

Ripple CEO Says XRP Utility Is Company’s ‘North Star’, Acquisitions Overperforming

Ripple CEO Brad Garlinghouse emphasized that enhancing XRP's utility is the company's core guiding principle, or "North Star," driving its product development and acquisitions. He noted that recent acquisitions, including Ripple Treasury and Ripple Prime, have significantly exceeded expectations, with Ripple Prime tripling its revenue. Garlinghouse highlighted a major opportunity in integrating crypto and stablecoin payments into traditional treasury systems, pointing out that $13 trillion in payments were processed last year with zero crypto involvement. He also discussed U.S. crypto regulation, expressing support for the CLARITY Act but revising his expected timeline for its passage to late May, stressing the importance of clear regulations to retain innovation and investment in the U.S.

bitcoinist03/30 07:34

Ripple CEO Says XRP Utility Is Company’s ‘North Star’, Acquisitions Overperforming

bitcoinist03/30 07:34

Euro Stablecoins Have Entered DeFi, What Are Other Local Currencies Waiting For?

Euro stablecoins are leading the adoption of non-USD stablecoins in DeFi, while other local currency stablecoins remain primarily used for payments and settlements. The implementation of MiCA regulations in Europe effectively ended Tether’s EURT, reducing its supply from over $400M to around $50M. However, the broader non-USD stablecoin market (excluding EURT) has nearly tripled since early 2023, reaching $1.1B by February 2026. Euro-denominated stablecoins account for over 90% of non-USD transaction volume and are increasingly integrated into DeFi protocols like Aave and Morpho for lending and trading. In contrast, other local currency stablecoins (e.g., BRL, JPY) are mostly used for payments, remittances, and enterprise settlements, with nearly 80% of their activity falling under unidentified transfers. Regulatory clarity, as seen in Brazil and Japan, is crucial for adoption. The growth of non-USD stablecoins is driven by their potential to reduce FX costs, streamline cross-border payments, and minimize dollar dependency. While euro stablecoins have set a precedent for DeFi integration, broader adoption of other local currency tokens will likely focus first on payment infrastructure before expanding into DeFi applications.

marsbit03/30 06:58

Euro Stablecoins Have Entered DeFi, What Are Other Local Currencies Waiting For?

marsbit03/30 06:58

Mag 7 Evaporates Two Trillion｜Rewire Morning News Brief

Two major conflicts are converging as Ukraine's drone attacks disable 40% of Russia's oil export capacity, while Russia equips Iran with advanced AI drones featuring Starlink communications. This signals merging global risk networks. Concurrently, the Magnificent 7 tech stocks have lost over $2 trillion in value, with markets now pricing in a potential interest rate hike this year as inflation concerns persist. A sector rotation from growth stocks to energy and defense is underway. In AI developments, Anthropic is privately warning US officials that its unreleased "Mythos" model could make large-scale cyber attacks significantly more likely by 2026, representing a leap in AI-powered offensive capabilities. Additionally, Eli Lilly makes a landmark $2.75 billion bet on AI drug discovery through a partnership with Insilico Medicine, aiming to compress drug development timelines from years to months. Other notable developments include US stablecoin regulation advancing, Musk warning that AI's growth is limited by power supply constraints, and AI policy becoming an independent issue in US midterm elections.

marsbit03/30 05:29

Mag 7 Evaporates Two Trillion｜Rewire Morning News Brief

marsbit03/30 05:29

A Company 'Destined to Be Killed' – How Did Its Returns Outperform Solana, the S&P, and Nasdaq?

The article argues that the biggest beneficiaries of stablecoin technology are not the startups building it, but established companies with existing distribution channels. The author uses Western Union (WU) as a prime example. Initially believing stablecoins would disrupt WU's business, the author instead found a valuable, cash-generating company whose stock was priced for imminent failure (trading at a P/E of 3-6x). The market had given WU zero credit for its powerful, trusted brand and massive global distribution network. The core "Inversion" thesis is that the market structurally overvalues tech innovators and undervalues old-economy companies, pricing their potential adoption of new technology at zero. This creates a significant margin of safety and asymmetric upside. The author's bet on WU over Solana paid off, as WU's management began embracing stablecoins, launching USDPT on Solana to reduce costs. The author contends that mature companies with distribution are best positioned to capture the efficiency gains from technologies like stablecoins and AI, leveraging their existing customer trust and reach to expand margins while startups commoditize the infrastructure.

marsbit03/30 04:36

A Company 'Destined to Be Killed' – How Did Its Returns Outperform Solana, the S&P, and Nasdaq?

marsbit03/30 04:36

From Utopian Narratives to Financial Infrastructure: The 'Disenchantment' and Pivot of Crypto VC

From Utopian Narratives to Financial Infrastructure: The Disenchantment and Pivot of Crypto VC The crypto industry, once championing "blockchain, not Bitcoin" and a broad Web3 vision, is now seeing venture capital flow overwhelmingly into pragmatic financial applications, particularly stablecoin payments. Following the decline of the Web3 and NFT boom in the early 2020s, investment has cooled for many sectors but surged for payment infrastructure. Key signals include Stripe's $1.1 billion acquisition of Bridge and Mastercard's $1.8 billion purchase of BVNK. Data from Architect Partners shows funding for crypto payment companies skyrocketed to $2.6 billion in 2025, exceeding the total of the previous three years combined. In contrast, funding for decentralized applications (DApps) and blockchain gaming has collapsed. The total private crypto funding reached $20.4 billion in 2025, still below the 2022 peak of $27.6 billion. Stablecoins, like USDT and USDC, are now seen as a breakthrough application, with their annual transaction volume soaring 72% to $33 trillion in 2025. Their core appeal is enabling efficient, real-time global value transfer, solving long-standing issues of cost and speed in cross-border payments. However, the industry faces significant challenges from established "gatekeepers" like Visa and Mastercard, which control terminal access. The piece also notes the declining market share of Binance and the emergence of new products like Franklin Templeton's tokenized ETF with Ondo Finance, which allows for 24/7 trading. A commentator starkly observes that the line between investing and gambling has been completely erased, with a significant portion of new ETFs being leveraged or crypto-related funds. The narrative has shifted from utopian rebuilding to building financial infrastructure.

marsbit03/30 01:45

Ethereum looks quiet – But liquidity is building for a bigger move

Ethereum's price appears subdued, but underlying liquidity is building significantly. Stablecoin supply has risen sharply, with nearly $5.8 billion added in a month, pushing total liquidity toward $163.3–$163.4 billion. While capital is concentrating on Ethereum, DeFi TVL stabilizes near $53 billion. Rising transaction counts and transfer volumes signal real usage is increasing despite weak price action. Transaction data confirms liquidity is not just building but is actively being deployed, with counts exceeding 2.6 to 2.8 million. This shift, driven by stablecoin transfers, lending flows, and DEX activity, validates real demand. Regulatory clarity further supports sustained participation. Institutional entry is strengthening Ethereum's financial rails, with firms like BlackRock and Franklin Templeton moving beyond pilots into real deployment. Tokenized real-world assets (RWAs) are expanding into the tens of billions, indicating capital is integrating into real financial use cases. As institutional capital builds exposure, Ethereum strengthens its role as financial infrastructure, positioning price to follow utility once deployment accelerates.

ambcrypto03/29 19:02

Ethereum looks quiet – But liquidity is building for a bigger move