Coinbase has introduced "Coinbase for Agents," a new service enabling AI models like ChatGPT and Claude to autonomously trade crypto, manage funds, and execute payments via the exchange. The tool aims to reduce manual oversight for users and supports the x402 AI payments protocol.
This development signifies a growing trend of integrating AI into financial services, potentially automating complex trading and payment processes within the crypto space. It raises questions about the future of autonomous financial agents and their impact on market dynamics and user profitability.
Coinbase has introduced "Coinbase for Agents," a new service designed to create dedicated accounts and sub-accounts for artificial intelligence (AI) bots, enabling them to trade, manage funds, and execute payments without manual user intervention. Users can direct their AI bots using natural language for tasks such as portfolio rebalancing and executing trades based on predefined investment theses. Lincoln Murr, Head of AI Product at Coinbase, highlighted personal use for automated portfolio management and opportunistic buying based on news analysis. The platform supports x402, an open AI payments standard incubated by Coinbase, which facilitates machine-to-machine transactions for accessing services like premium research and data APIs. Over 10,000 online merchants have reportedly integrated x402. Initially, the service will offer access to spot trading, with plans to expand to derivatives, prediction markets, and equities trading. Safety features include isolated sub-accounts, spending caps, transaction limits, and trade size restrictions. Coinbase also launched Coinbase Advisor, an SEC- and CFTC-registered in-app financial advisor providing AI-powered recommendations.
Coinbase's move comes as crypto companies increasingly integrate AI capabilities. AI agents are seen as a way to support the high-frequency microtransactions typical of autonomous trading strategies. However, a recent study indicated that users of AI agents are collectively losing money, and some projects lack clear evidence of autonomous trade execution. Despite these concerns, Coinbase is betting on the growth of AI agents interacting across multiple services, similar to initiatives by stablecoin issuer Circle and Crossmint.