Stablecoin Firms Bet Big on AI Agent Payments That Barely Exist

Circle Internet Group Inc. and Stripe Inc. are racing to build payments systems for a world that doesn’t exist yet — one where autonomous AI agents transact millions of times a day, settling in stablecoins instead of swiping credit cards.

Two weeks ago, a Citrini Research scenario imagining AI agents routing around card network fees sent Visa Inc., Mastercard Inc. and American Express Co. shares tumbling as much as 5% in a single session. The selloff faded. The disruption thesis didn’t.

Instead, the idea migrated from a speculative Substack post into earnings calls, and accelerated enthusiasm around product launches ...