BlackRock Sees AI Agents Driving Demand for Stablecoins and Compute

BlackRock's recent research paper, titled 'The Machine-Native Economy,' argues that artificial intelligence (AI) adoption will drive demand for stablecoins and tokenized compute. According to the firm, AI agents will increasingly use digital assets for machine-to-machine payments, settlement, and finality.

The authors of the paper, Will Su, Robert Mitchnick, Jay Jacobs, and William Helm, contend that AI agents require programmable payment rails, which stablecoins and other on-chain assets can provide. They cite existing infrastructure such as Coinbase's x402 protocol and Tempo's Machine Payments Protocol as evidence of this trend.

BlackRock also notes that tokenized compute could extend the thesis beyond payments, enabling AI companies to lock in compute costs while providers manage risk. Tokenized claims on compute capacity could be transferred, pledged as collateral, or traded, broadening institutional investor participation and creating a new opportunity for the broader digital-asset ecosystem.

The firm emphasizes that their research is focused on the structural catalyst of AI adoption rather than making any predictions about Bitcoin prices. While AI agents may use digital assets for transactions, BlackRock does not forecast any specific price movements or outcomes.