Artificial intelligence (AI) agents — autonomous software programs capable of performing tasks, making decisions, and transacting on behalf of users or other systems without continuous human oversight — represent the next "killer" use case for blockchain and cryptocurrency, according to Sandy Kaul, head of digital assets and innovation at Franklin Templeton, one of the world's largest investment management firms.

In an X post on Wednesday, Kaul argued that the emerging AI agent economy will drive increased demand for blockchain protocols capable of handling machine-to-machine micropayments. Legacy card networks, he explained, are ill-suited for agentic payments due to high transaction fees and lengthy settlement times.

"To capture the AI growth opportunity today, most investors buy shares of AI-aligned companies and related verticals. But will the same playbook work for agentic AI," Kaul wrote in the introduction to his post, which spanned more than 1,800 words.

Kaul identified blockchain networks such as Aptos, Solana, and BNB Chain as better positioned for the agentic economy, noting that they settle transactions in seconds — a significant improvement over the one-to-three business-day settlement window typical of the Visa network. Franklin Templeton, which manages trillions in assets, has been an active participant in the digital asset space, having launched spot Bitcoin and Ethereum exchange-traded funds.

The convergence of AI agents and crypto payments infrastructure comes as major technology companies including OpenAI, Anthropic, and Google accelerate development of agent frameworks designed to automate complex multi-step workflows, potentially creating large volumes of autonomous transactions.

A joint report published last Wednesday by payments giant Visa and investment thesis platform Artemis echoed similar conclusions. The report argued that traditional payment cards, designed for low-frequency human commerce, are insufficient for AI agents, which require infrastructure with near-zero fees and faster settlement to make agentic micropayments commercially viable.

Visa's crypto division and Stripe-backed Tempo both launched AI payment tools in March. Visa's offering enables AI agents to make same-day payments, addressing the speed constraints of conventional card networks.

Meanwhile, some machine payment protocols are showing early signs of adoption. The x402 payment protocol, developed by major United States cryptocurrency exchange Coinbase, has processed $15 million in adjusted volume across more than 109 million adjusted transactions since its launch in May 2025, according to the Visa and Artemis report. The protocol's name references HTTP status code 402 ("Payment Required"), which was originally reserved in the HTTP specification for future use in digital payment systems. Coinbase, one of the largest crypto exchanges globally, introduced x402 as an open-standard protocol designed to enable AI agents and other autonomous systems to pay for goods and services using stablecoins and other digital assets without intermediaries.