Visa and Coinbase Are Fighting Over the Rail. Nobody Is Fighting Over the Layer Above It.
Forbes reported it last week: "Visa, Mastercard and Coinbase are fighting over how AI agents pay." The estimated market: $5 trillion by 2031. Two incompatible answers to one question. When software spends your money, what settles the transaction? Camp 1: Visa and Mastercard. Tokenized card credentials. The agent gets a virtual card number with transaction boundaries baked in. Partners include Anthropic, OpenAI, Perplexity, and Mistral. Camp 2: Coinbase. HTTP 402 protocol (x402). USDC stableco...
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