BlackRock said in its latest report, "The Machine-Native Economy," that artificial intelligence and digital assets are converging at a faster pace. The firm described AI as "machine-native intelligence" and digital assets as "machine-native money," arguing that blockchains can provide machine-readable assets and programmable settlement as AI agents begin to buy services and initiate financial transactions on their own.
The report said stablecoins could be the first major transaction tool for agent-driven commercial activity because blockchain-based rails are better suited than traditional payment networks for 24/7, high-frequency and low-value machine-to-machine payments. BlackRock cited data showing that stablecoin supply had exceeded $300 billion as of September 2026, while adjusted transaction volume topped $11 trillion in 2025, representing a compound annual growth rate of 80% from 2020 to 2025.
BlackRock also pointed to computing power as a potential new large digital-asset market. Analysts expect the combined revenue of AWS, Microsoft Intelligent Cloud and Google Cloud to reach about $1.1 trillion by 2030. The report added that rights to computing capacity could eventually be standardized and tokenized for transfer, collateral use and programmable settlement, though liquidity in agent payments and computing markets remains at an early stage.
BlackRock said in its latest report, "The Machine-Native Economy," that AI and digital assets are merging at a faster pace. The firm described AI as "machine-native intelligence" and digital assets as "machine-native money."
According to the report, blockchains can provide machine-readable assets and programmable settlement infrastructure as AI agents begin to purchase services and initiate financial transactions on their own.
Stablecoins seen as a likely payment rail for AI agents
BlackRock said stablecoins could become the main transaction tool for agent-driven commercial activity ahead of other digital assets. Compared with traditional payment networks, blockchains are better suited for around-the-clock, high-frequency and low-value machine-to-machine payments.
The report cited data showing that stablecoin circulation had exceeded $300 billion as of September 2026. Adjusted transaction volume surpassed $11 trillion in 2025, with a compound annual growth rate of 80% between 2020 and 2025.
Computing power may emerge as a major digital-asset market
BlackRock also said computing power could develop into a new large market within digital assets. Analysts expect combined revenue from Amazon Web Services, Microsoft Intelligent Cloud and Google Cloud to reach about $1.1 trillion by 2030.
In BlackRock's view, rights to use computing power could eventually be standardized and tokenized, allowing them to be transferred, pledged as collateral and settled programmatically. Futures tied to computing power could also support price discovery and risk hedging.
The firm added that liquidity in agent payments and computing-power markets is still at an early stage. As AI applications expand, digital assets could gradually become part of the core infrastructure of the AI economy.
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