Latest Update: Google Joins the Competition in the Field of Agentic AI for Stablecoin Transactions
In a groundbreaking move, Google has announced the development of the Agent Payments Protocol (AP2), an open protocol designed to facilitate AI agents, including chatgpt and gemini, in sending and receiving payments. This new system aims to accelerate support for the Web3 ecosystem, providing a production-ready solution for agent-based crypto payments.
The AP2 protocol is designed with a focus on incorporating both existing and future payment rail capabilities. It supports various payment types, including credit and debit cards, stablecoins, and real-time bank transfers. The system uses 'Mandates,' which are tamper-proof, cryptographically-signed smart contracts that serve as verifiable proof of a user's instructions for real-time purchases and delegated tasks.
AI agents, equipped with the AP2 protocol, can seek out personalized offers, contacting merchants with specific details and time frames for the item wanted. They can also monitor availability and execute purchases when conditions are met, enabling smart shopping. Moreover, these agents can carry out coordinated tasks such as booking flights and hotels with multi-vendor transactions simultaneously.
Google's AP2 builds on Coinbase's Agent2Agent framework from April 2025. The system addresses two primary ways a user will shop with an agent: real-time purchases with the human present, and delegated tasks which the agent will handle.
Over 60 global partners, including Salesforce, Coinbase, the Ethereum Foundation, and major global payment platforms like American Express, Mastercard, PayPal, Revolut, and UnionPay, are collaborating on advancing Google's Agent Payments Protocol. The collaboration aims to create a secure, open standard for AI-driven, agentic payments, ensuring cross-registry interaction and high-trust economic transactions without central intermediaries.
Key collaborators like Salesforce are working on AI agent platforms (Agentforce) with focuses on integration, regulatory compliance, and practical deployment of AI agents in business contexts. This week, the Ethereum Foundation announced the formation of a new team to work on agentic AI payments for the Ethereum network.
Google Cloud's head of Web3, James Tromans, discussed the development of AP2 with Fortune, emphasising the potential of this new protocol to shape the evolution of cryptocurrency integrations and contribute to a more seamless, AI-driven shopping experience.
With the Agent Payments Protocol, Google is set to revolutionize the way we shop and make payments, making transactions more secure, efficient, and personalized than ever before.
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