USDC Captures 99.3% of x402 AI Agent Payments in Second Quarter
Circle's stablecoin USDC has emerged as a dominant player in payments made between artificial intelligence agents. According to Circle CEO Jeremy Allaire, 99.3% of x402 agent-payment volume settled in USDC during the company's second quarter.
The x402 protocol allows autonomous agents to receive prices, authorize payments, and access digital services without human intervention. USDC provides a dollar-denominated settlement asset that maintains stability, making it an attractive choice for AI-driven transactions.
Circle has seen significant growth in its USDC circulation, reaching $73.3 billion at the end of the second quarter, representing a 19% increase from the previous year. Quarterly transaction volume rose to $14.8 trillion, a 151% year-over-year gain.