BlackRock says AI agents could boost demand for stablecoins and programmable payment networks, while tokenized computing resources may open another avenue for digital assets.
BlackRock, the world’s largest asset manager, says widespread AI adoption could become an overlooked driver of demand for digital assets.
In its latest research paper, “The Machine-Native Economy,” BlackRock said growing AI use and machine-to-machine payments could drive greater demand for blockchains and programmable payment infrastructure, including stablecoins and other on-chain assets. The firm also identified a potential role for digital assets in the computing market, where computing capacity could be tokenized, traded and used as collateral.
BlackRock executives Will Su, Robert Mitchnick, Jay Jacobs and William Helm wrote that these developments could make AI a structural driver of digital asset adoption, while digital assets may help support the broader AI economy. They said the connection remains underappreciated and could give digital assets a larger role as foundational infrastructure for a more autonomous digital economy.
The crypto industry has long highlighted the potential connection between AI and digital assets, while BlackRock’s research could bring that thesis to a wider audience of institutional investors.
AI Could Drive Demand for Machine-Native Payment Rails
BlackRock argues that the growth of agentic AI could drive greater demand for payment instruments designed for machine-to-machine transactions.
Although current payment rails can handle some automation, account creation, credential management and authorization may still require human input. At the same time, merchant fees can make small-value transactions uneconomical, while settlement and finality periods may differ between providers.
BlackRock said stablecoins, native cryptocurrencies and tokenized real-world assets could suit frequent, sub-cent machine-to-machine payments that occur continuously around the clock.
“Several types of digital assets may support agentic commerce, but stablecoins are likely to lead transactional use,”
the authors said.
Compute Could Open a New Market for Crypto
The authors said digital assets could find an opportunity in the expanding compute market, which provides the processing power required to train and operate AI systems.
As demand for AI grows, companies could seek to secure computing costs and providers as part of their risk management strategies. Claims on that capacity could then be tokenized, transferred, pledged as collateral or traded in digital asset markets.
The authors said this could expand institutional investor participation and make compute a new opportunity across the broader digital asset ecosystem. They also noted that AI agents could use these markets to automatically acquire computing resources whenever needed.
BlackRock’s view aligns with arguments previously made by crypto industry executives. In July, Coinbase CEO Brian Armstrong challenged calls for the crypto sector to shift toward AI, saying AI agents could drive stronger demand for crypto-based financial services.
“AI being a megatrend takes nothing away from crypto,” Armstrong wrote, because AI agents will need programmable money rather than traditional banking rails. “If anything, it makes crypto more important,”
he added.
Crypto firms are already developing infrastructure to support this activity. Coinbase’s x402 protocol and Tempo’s Machine Payments Protocol were built to enable AI agents to automatically pay for online services.
In May, Circle launched agent wallets and USDC payment tools, while OKX’s Agent Payments Protocol supports recurring transactions and escrow-based arrangements, where funds are released once an assigned task is completed.
