Google has unveiled a new payment scheme aimed at making it easier for different AI applications to send and receive funds. This open-source protocol not only supports traditional payment methods such as credit cards and debit cards, but also supports stablecoins—cryptocurrencies pegged to underlying assets like the US dollar.

To achieve stablecoin compatibility, Google has partnered with the cryptocurrency exchange platform Coinbase, which has also developed its own AI and crypto payment solution. Coinbase stock jumped over 2% in premarket trading.

Additionally, Google has collaborated with other crypto companies, including the Ethereum Foundation. In other parts of the protocol, Google has engaged with over 60 institutions such as Salesforce, American Express, and Etsy.

James Tromans, Head of Google Cloud Web3, said: "We designed this protocol from the ground up, taking into account both existing traditional payment capabilities and upcoming features such as stablecoins."