Google rolls out stablecoin support in new AI payments protocol: Fortune

Google reportedly partnered with Coinbase and several other firms to introduce stablecoin support in its new payment protocol for Artificial Intelligence (AI) agents.

Google teams up with Coinbase and Ethereum Foundation to include stablecoins in payment protocol

Google introduced an open-source payments protocol that enables AI applications to transfer funds between one another, with support for stablecoins, according to a Fortune report on Tuesday.

The protocol builds on Google's earlier communication standard for AI agents and supports both traditional payment methods, such as credit cards, and digital assets pegged to the US Dollar.

Support for stablecoins was integrated in partnership with Coinbase, the Ethereum Foundation and several other crypto-focused firms, according to the report.

Salesforce, American Express and Etsy are also among over 60 companies that collaborated with Google to build other elements for the protocol.

"The way we built it is from the ground up to factor in both heritage and existing payment rail capabilities as well as forthcoming capabilities such as stablecoins," James Tromans, Head of Web3 at Google Cloud, told Fortune.

The development reflects Google's increasing acceptance of stablecoins, a sector also being explored by other top firms.

Erik Reppel, Head of Engineering at Coinbase's developer platform, told Fortune that the exchange collaborated with Google to align the payment protocol for interoperability, noting that the broader effort is focused on enabling AI systems to transfer value seamlessly.

"We're all working to figure out how we can make AI transmit value to each other," said Reppel.

The move comes amid a rise in stablecoin adoption in recent months following the passage of the GENIUS Act in July, which regulates the activities of stablecoins and their issuers in the US.

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Likewise, the US Securities and Exchange Commission (SEC) clarified in April that fully backed, redeemable stablecoins generally fall outside the scope of securities laws.

Against this backdrop, Google's framework makes it one of the first major tech firms to integrate stablecoins, the report states. In contrast, firms like Apple and Meta continue to take a more cautious approach to crypto.