A report from Keyrock reveals that AI bots have driven $73 million in USDC crypto payments as of May 2026. The figure pales against Visa's ~$14.5 trillion annual volume, but the report stresses that ecosystem development speed and infrastructure investment matter more than volume at this stage.
Machine-to-Machine Payments: Major Players Offer Solutions
Visa, Stripe, Google, and Coinbase are each developing automated machine-to-machine payment solutions. Coinbase's x402 protocol allows AI applications to pay directly with USDC on blockchain, eliminating the need for accounts or subscriptions. Stripe's Machine Payments Protocol (MPP) runs on the Tempo blockchain. Google's AP2 framework authorizes spending on behalf of AI software, while Visa adds token-based authorization features to its card network specifically for AI-driven purchases.
The core use case: AI algorithms independently buy digital services such as data, cloud services, or analytics throughout the day without manual approval.
Traditional Rails Too Costly for Low-Value Payments
The report finds that 76% of AI program payments are below the standard 30-cent card processing fee. Most range from 1 to 10 cents, making traditional systems inefficient. Meanwhile, moving funds with USDC over Base or Tempo blockchains costs less than one cent. Currently, 98.6% of all machine-to-machine payments use USDC, the stablecoin issued by Circle and pegged 1:1 to the U.S. dollar. This gives Circle a central role but also raises concentration risk from relying on a single issuer.
Growth Forecasts and Regulatory Void
Gartner predicts AI-mediated transactions could reach $15 trillion annually by 2028. McKinsey estimates retail machine commerce hits $3-5 trillion by 2030. Keyrock suggests this growth may outpace stablecoin market expansion. However, regulatory uncertainty remains the sector's biggest roadblock. Frameworks like MiCA in Europe, the GENIUS Act in the U.S., and the EU's AI Act are expected by mid-2026 but still lack direct rules for machine-to-machine transactions, liability, or digital intermediary identity. The report notes that while faster infrastructure signals the end of machine payments' trial phase, the lack of regulation creates risk and uncertainty across the industry.