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In one year, machine payments have evolved from concept to live ecosystem, with agents settling 176M transactions. Our research with @CoinbaseDev, @tempo, and featuring @virtuals_io analyses the payment stack’s evolution, how the economics work, and what stands in the way.

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The machine economy is reaching commerce. AI agents process up to 75% of Safe transactions on Gnosis Chain. The shift from extractive bots to productive agent commerce is underway. Our latest report analyses the driving forces of that shift. keyrock.com/who-pays-the-a…

This Week in the Virtuals Ecosystem 🟩 VIRTUALS 🟩 All Titan launches are now listed on @binance and @BithumbOfficial . Virtuals gives agent projects more ways to reach major markets like Korea through launch support, distribution, and local ecosystem access. 🟩 Trading fees alone are not always enough to fund serious agent teams. Virtuals has routed $5M+ to agent builders through ACF, giving teams a second funding engine as they grow. 🟩 Building with support from @jun_song, Virtuals is exploring how ACF can help Korean open-source developers access funding beyond sponsorships and trading fees. 🟩 Featured in @keyrock’s new research report on machine payments. Agents have now settled 176 million transactions as the payment stack for the agent economy matures. ECOSYSTEM 🟩 @xmaquina featured in Khala Research report. Their RCM Protocol turns verified private robotics equity into onchain subDAO tokens, bringing liquidity to illiquid markets. 🟩 @H1DR4_agent previewed their dashboard. It includes a live signal map for fraud, suspicious wallets, phishing, thefts, camera feeds, timeline, and USDC bounties. The Intelligence Network also lists official rewards from FBI, U.S. Marshals, and Europol for wanted fugitives. 🟩 @sibylcap memory plugin is now in active internal testing and moving fast toward release. 🟩 @Wach_AI x402 endpoints are seeing steady adoption for token verification and safe onchain buys. 🟩 @caspius_ai revealed their Genesis Caspius NFTs. Each NFT corresponds to a body part with rarity, traits, and levels powered by it's toekn. They provide energy for recording demonstration data in the embodied AI data network and can be combined to fabricate new NFTs. 🟩 @reppo dropped a sneak peek of the Reppo Polyagent. It is autonomously trading on Polymarket using geopolitics data from Reppo Datanets. The agent opens and closes real money positions with improving win rate every day. Full public GitHub repo is live and the alpha drops next Tuesday. 🟩 @PRXVTai PrivacyHook for ERC 8183 is live in the official repo and already being discussed as a key piece for confidential agent commerce. 🟩 @OpenGradient HACA architecture continues to get attention as the go to stack for verifiable inference at scale. 🟩 @instaclaws keeps reinforcing the value of their dedicated always on VMs with full persistence for agents. 🟩 @ethy_agent has been teasing the final countdown to Ethy V2. A full week of announcements is coming as they gear up for the May 28 launch of the complete agentic trading platform. Agents keep shipping. See you next week.

In one year, machine payments have evolved from concept to live ecosystem, with agents settling 176M transactions. Our research with @CoinbaseDev, @tempo, and featuring @virtuals_io analyses the payment stack’s evolution, how the economics work, and what stands in the way.

AI agents settled $73m across 176m transactions last year. But 76% of those payments are under $0.30... every single one loses money on card rails. We just shipped a 32-page report with @CoinbaseDev, @Tempo and @virtuals_io on the infastrutcure being built . 1/ Thread follows

Four protocols define today’s AI payments infrastructure, and each forms a different layer of the stack. A race is now on for total vertical integration. What does this mean for the ‘open protocol’ narrative? See our latest report. keyrock.com/who-pays-the-a…

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Our findings propose what comes next, and what’s needed for agent commerce to scale to the trillions, rather than remain a nice layer of the existing payments stack. Access exclusive insight today. Read the full report. keyrock.com/who-pays-the-a…

The stack is evolving in real time. Settlement layers, wallets, payment protocols, marketplaces, and governance frameworks are all being built simultaneously by different players. Each player is optimising for a different layer of machine commerce.