Coinbase Global (COIN) is building infrastructure to enable artificial intelligence agents to make payments, seeking to issue a new stablecoin for Cloudflare (NET) later this year, The Information reported Wednesday, citing people familiar with the matter.

Agentic payments are "certainly one of our top priorities as a company," Coinbase's Chief Business Officer said. The company earns mainly by providing the infrastructure AI agents use, rather than from direct consumer fees, the report added.

At the center of the initiative is Coinbase's x402 payments protocol, developed last year, which lets websites easily accept payments from AI agents. Usage remains small but the protocol is now a key tool for agent-based crypto payments.

Cloudflare's Chief Strategy Officer Stephanie Cohen said internet traffic is increasingly driven by AI agents and bots. "You will likely need new payment capabilities for the internet," she said, according to the report.

Cloudflare and Coinbase did not comment on any potential collaboration to issue a stablecoin, according to the news outlet. The companies didn't reply to MT Newswires' request for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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