Stablecoins
Dispatches on stablecoins for AI agents in financial services.
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Dispatches on this topic
- OSL put six agent payment rails behind one API. The price signal was in the choosing.
On 7 August OSL launched AgentPay: you declare amount, asset and payee, and it handles routing, signing and settlement across USDT, USDC, USDGO, x402, AP2 and MPP. The integration saving is real. What it costs you is the per-call price you were reading and the protocol-specific receipt you were keeping — and one of the assets in the routing set is OSL's own. Here is how to buy the abstraction without going blind.
- x402's sub-dollar traffic fell from 46% to 4%. The rail found a use nobody announced.
In June I argued that a pay-per-call price is a message and your job is to read it. Chainalysis has now published the reply: x402's sub-dollar tail collapsed from 46% of volume to 4% while $1-and-up rose to 95%. The micropayment rail is not carrying micropayments. Here is how to read that distribution, why the transaction and agent counts circulating in secondary coverage are the least reliable numbers in the stack, and what Fireblocks selling spend governance tells you about the constraint arriving next.