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BlackRock flags an AI-driven stablecoin customer in the machine economy
BlackRock projects stablecoin transaction volume could reach about $11.2 trillion in 2025, with the firm citing 80% compound annual growth from 2020 to 2025.
BlackRock says artificial intelligence could eventually create a new class of stablecoin customer, as autonomous AI systems make continuous, machine-to-machine purchases without requiring human approval. The asset manager argues that in a “machine-native economy,” software may execute thousands of small transactions to complete tasks, shifting how transaction initiation works, rather than simply adding to existing payment activity.
The report points to the role stablecoins could play because they can be held in programmable wallets, allowing settlement of frequent purchases without a person approving each payment. BlackRock also describes how AI agents could repeatedly pay for small items like API calls, data feeds, or units of computing power, potentially producing payment flows worth fractions of a cent and running around the clock.
BlackRock estimates stablecoins already have more than $300 billion in circulation and projects about $11.2 trillion of adjusted transaction volume in 2025. The firm says that volume grew at an 80% compound annual rate between 2020 and 2025, compared with roughly 8.5% for the US Automated Clearing House network, which still processed about $93 trillion last year.
The report cautions against directly comparing stablecoin activity with card networks because transaction measurement differs. BlackRock instead highlights emerging protocols, including Coinbase’s x402, which uses the web’s HTTP 402 “Payment Required” status, and efforts from Stripe and others to connect AI agents to payment settlement through stablecoins or traditional rails.