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hot_img Visa and Artemis jointly released the Smart Payment Report: The x402 protocol processed $15 million in transactions in its first year, accelerating the arrival of the AI micro-payment era

Visa and the on-chain data analysis platform Artemis previously jointly released the report "Agentic Payments from the Ground Up," which quantifies the trends of AI agent payments based on real-time on-chain data. The report points out that intelligent commerce should be divided into macro transactions (AI agents completing bookings, subscriptions, etc., adapting to existing card systems) and micro payments (high-frequency small payments between machines, with individual transactions far below $1, which traditional payment structures struggle to support).The report focuses on two "machine-native payment" protocols: x402 (developed by Coinbase, Cloudflare, etc., launching in May 2025) with an adjusted transaction volume of approximately $15 million and 109.6 million transactions as of April 21, 2026, with 422,000 buyers and about 5,300 sellers, primarily concentrated on Base, Solana, and Polygon, settled in USDC; MPP (developed by Stripe and Tempo, with Visa's participation, launching in mid-March 2026) had a transaction volume of approximately $25,000 and 115,000 transactions within 33 days of launch, supporting both on-chain crypto payments and fiat settlements.The report believes that the leap in AI capabilities (with the release of Claude 4.5 and GPT Codex 5.2 in mid-2025) has created a demand for programmatic payments, combined with the decreasing costs of blockchain settlements, making micro payments in the range of 1 cent to 1 dollar economically viable for the first time. Currently, the boundaries between crypto-native protocols and card payment camps are gradually blurring, but agent payments still face trust challenges such as erroneous purchases, adversarial attacks, and liability attribution.

Artemis Founder: Traditional financial participants will drive the total market value of cryptocurrencies to over $100 trillion

ChainCatcher news, Jon Ma, the founder of the encrypted data platform Artemis, shared his cryptocurrency investment journey. He first encountered Bitcoin in 2015 through a computer science course but did not pay much attention to it; he only began purchasing cryptocurrencies like BTC and Litecoin at the peak of the bull market in 2017. Conversations with ShapeShift founder Erik Voorhees made him realize that government and currency could be separated.After that, he missed the DeFi summer of 2020 and the NFT boom of 2021, returning to the crypto market only in mid-2021, purchasing SOL and Solana NFTs through FTX US, and engaging with projects like ENS and Wonderland Money. He also participated in Axie Infinity with his girlfriend and established a scholarship program in the Philippines.Ma stated that compared to traditional SaaS, fintech, and internet consumer sectors, cryptocurrency has created a larger global labor and financial system. Looking ahead, he expects traditional finance (TradFi) participants to drive the market capitalization of crypto assets from the current $3.5 trillion to over $100 trillion.With major asset management institutions like Fidelity and BlackRock launching digital asset ETFs, and payment giants like Stripe and Visa entering the crypto payment space, traditional finance participants are expected to become the main force shaping the global digital financial system after 2025.
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