Coinbase sees first crypto transactions between two AI agents
Giving AI its own crypto wallet and or access to one would mean it can spend its own money and your own money - this could have huge implications for the global economy and payments.
Key takeaways
- Cryptocurrency exchange To accelerate this trend Coinbase recently launched an AI accelerator grant program to award $3,000 to five projects focused on combining AI with crypto wallets.
- According to Coinbase CEO Brian Armstrong, Large Language Models (LLMs) - the technology behind AI systems such as OpenAI’s ChatGPT and Anthropic’s Claude - could accomplish finance-related tasks if properly equipped.
- The Coinbase Developer Platform announced its $15,000 accelerator grant program to explore those use cases.
Cite or link to this article
Griffin, M. (2024) 'Coinbase sees first crypto transactions between two AI agents', 311 Institute, 9 September. Available at: https://www.311institute.com/coinbase-sees-first-crypto-transactions-between-two-ai-agents/ (Accessed: 1 October 2026).
Today we’re seeing a new economy emerge – robots buying from robots, or in geek speak and to be more precise machines buying from machines and Artificial Intelligence (AI) agents buying from other AI agents. Cryptocurrency exchange To accelerate this trend Coinbase recently launched an AI accelerator grant program to award $3,000 to five projects focused on combining AI with crypto wallets.
According to Coinbase CEO Brian Armstrong, Large Language Models (LLMs) - the technology behind AI systems such as OpenAI’s ChatGPT and Anthropic’s Claude - could accomplish finance-related tasks if properly equipped.
“LLMs should have crypto wallets. Let’s help AI agents get work done (on your behalf) and participate in the economy,” he said.
Coinbase engineering lead Yuga Cohler posted a demo of the “AI Wallets” feature to X on Aug. 12. In the demo, Cohler demonstrates a scenario where an organization is paying people to participate in human-feedback sessions to train an image recognition model.
The system prompts Cohler to choose the image he “thinks is best” from three pictures. Once he makes his selection and thus fulfills his task of helping train the AI, the model can send his payment directly to his cryptocurrency wallet.
This scenario evokes a bit of Amazon’s Mechanical Turk wherein humans are paid for completing simple tasks online. However, there are a number of conceivable use cases for giving an AI system the ability to conduct and receive wallet transactions.
The Coinbase Developer Platform announced its $15,000 accelerator grant program to explore those use cases. According to the Coinbase website, the company is looking for a useful “bot” built using an LLM that can connect to Coinbase’s multiparty computation wallets.
Per Coinbase, the grant is designed to test the waters of AI-induced economic applications: “A major barrier to building useful applications with AI is that AI agents can’t get a bank account to send/receive automated payments. Building on chain fixes this.”
Crypt
Those interested in applying for the grants have until October 5th to submit their applications.
FAQ
Why does this matter?
Giving AI its own crypto wallet and or access to one would mean it can spend its own money and your own money - this could have huge implications for the global economy and payments.
About the author
Matthew Griffin Founder, 311 Institute
Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath."
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Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath." 15-time best selling author of the "Codex of the Future" series, Matthew is the Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm working with royal households, world leaders, G7, G20, and G77 governments, NGOs, and multi-national mid and mega cap firms to help them explore, shape, and lead the next 50 years of business and society.
An award-winning YouTube creator with over a million followers, with an unrivalled global reach and impact, Matthew is a highly sought-after international keynote speaker, lecturer, and mentor who collaborates with global leaders through the United Nations Alliance of Civilizations (UNAOC) and United Nations General Assembly (UNGA) to shape pivotal initiatives such as the UN’s AI for Humanity program, the United Nations Conference of the Parties (UN COP), and the World Economic Forum in Davos.
As the former Global Head of Cloud, National Security, and Enterprise Sales for companies including Atos, Dell-EMC, and IBM, Matthew has a proven track record of building multi-billion dollar business units and turning failing divisions into market leaders. His ability to identify, analyse, and communicate the implications of hundreds of emerging technologies and trends is unparalleled, and his insights are trusted by many of the world’s most respected organisations, including ABB, Accenture, Adidas, AON, ARM, BCG, Centrica, Citi, Coca-Cola, Dentons, Deloitte, Dow Jones, EY, Google, KPMG, Lego, Legal & General, LinkedIn, Microsoft, PepsiCo, Qualcomm, RWE, Samsung, Siemens AG and Siemens Energy, T-Mobile, UBS, VISA, Walmart, Workday, Worldpay and many others.
Regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, Matthews mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.
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Sources and further reading
- posted x.com
- Ai builder grants coinbase.com
Source: first published by the 311 Institute on 9 September 2024. Cite as: Griffin, M. (2024). Coinbase sees first crypto transactions between two AI agents. 311 Institute. https://www.311institute.com/coinbase-sees-first-crypto-transactions-between-two-ai-agents/
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