Machine Payments on Public Blockchains Reach New Milestone

The growing adoption of machine-to-machine payments on public blockchains has been highlighted by blockchain analytics firm Chainalysis in its latest report.

According to the data, over 100 million transactions have been processed through Coinbase's x402 protocol on the Base network since its launch.

The growth is attributed to the increasing use of AI agents, which can automate payments for online resources such as APIs and digital services. The x402 protocol allows a stablecoin payment to be completed as part of a web request, eliminating the need for manual approval.

Chainalysis noted that usage levels remain high even after the initial hype surrounding the PING token launch faded. In fact, transaction volumes have stabilized over time, with larger-value transfers accounting for an increasingly large share of activity.