126: Stripe just skipped the banks
Hey, it’s Marc.
Stripe just became the best crypto bank on earth. And they did it with one update. Coinbase rewrote the internet’s payment layer. Tether goes all-in on AI. And Paul Tudor Jones says “there’s a 10% chance AI wipes out half of us” (watch this!).
Big week. Let’s unpack it.
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This week’s question:
Coinbase just rewrote the Internet’s payment layer
Coinbase launched a new payments standard (x402), together with Amazon Web Services (AWS), Anthropic, Circle and NEAR Protocol. It’s a new open protocol that lets AI agents pay for services over the internet using stablecoins. It revives HTTP 402, the long-unused status code for “Payment Required,” giving it new life as an embedded internet-native payment rail. Think of it as Stripe meets REST APIs, built for machine-to-machine transactions. So what? This could reshape how APIs, SaaS tools, and data services are monetised and slash the 2-3% fees and 48-hour delays of legacy rails. x402 is a huge step for stablecoins and the future of the internet. RELEASE, GO DEEPER
Tether’s AI Runs on Bitcoin, Not the Cloud
Tether announced Tether AI – a peer-to-peer network for billions of agents. Think of it as a modular, open-source AI runtime that runs anywhere with no API keys and transacts natively in USDT + Bitcoin. Launching Q1 2025, Tether AI lets users and AI agents transact directly on a decentralised, open-source system, bypassing 2-3% legacy fees and cloud giants. It’s part of a broader strategy to decentralise AI infra, starting with tools like AI Translate and wallet assistants. So what? This is NOT a one-off announcement. This is a multi-year, strategic effort to build a crypto-AI tech stack. The next big thing for blockchain won't be DeFi. It will be AI. RELEASE, GO DEEPER
Stripe just became the best crypto bank on earth
Stripe just dropped one of the biggest updates in global finance — and barely anyone noticed. It now offers stablecoin financial accounts that let businesses in 100+ countries hold USD balances, pay contractors, move money across borders, and off-ramp via ACH, SEPA, or crypto rails — all from the Stripe dashboard they already use. So what? You don’t need a U.S. bank account. You can receive USDC or Stripe’s own stablecoin (USDB, backed 1:1 with BlackRock-managed cash), hold it, and move it like dollars. This unlocks global dollar access without touching a legacy banking system. For ops, treasury, and founders outside the U.S., this is huge. It’s programmable money with compliance built in. And it just made Stripe the quiet default for crypto-native business banking. RELEASE
Robinhood wants to tokenize Wall Street for Europe
Robinhood is building a blockchain platform to let EU retail investors trade tokenized U.S. stocks — likely on Arbitrum or Solana. This follows its Lithuanian brokerage license and pending Bitstamp acquisition for MiFID-regulated crypto derivatives. The goal: bypass legacy rails and unlock cross-border retail capital at scale. So what? Tokenized securities aren’t just a crypto experiment anymore — they’re a $20B cost-cutting wedge into global finance. 24/7 liquidity, T+0 settlement, and fractional access make them hard to ignore. BlackRock’s BUIDL fund is already past $2B. Franklin Templeton, Apollo, and Coinbase are in. Now Robinhood is making it retail-ready. Source
Meta’s crypto comeback
Meta is back in the crypto game — but with a quieter, more surgical play than Libra. The company is in talks with stablecoin providers to enable crypto-based payouts, and recently hired Ginger Baker (ex-Plaid, current Stellar board member) as VP of product to lead the effort. So what? This isn’t a coin launch. It’s infra alignment. Meta wants faster, cheaper global payments. And as Stripe, Visa, and Fidelity lean in, stablecoins aren’t fringe anymore.
News Flash
Coinbase acquires Deribit derivative exchange for $2.9B. Link
Visa backs Bvnk to push stablecoin payments. Link
Kraken goes multi-asset with $1.5B NinjaTrader deal. Link
Metaplanet issues $25m bonds to buy BTC. Link
Gemini 2.5 Pro gets smarter, still trails O3. Link
Google and Safari searches are declining faster than ever. Link
Readings & Ideas
Takeaways from Token2049 Dubai. Link
Paul Tudor Jones’s take on AI. Link
Apple's 'AI Search' King-making role. Link
For every AI, there’s an NFT [Interview with Burger King’s ex-CMO]. Link
Ray Kurzweil’s take on AI. Link
The end of Apple's 30% monopoly tax and $30B of revenue. Link
Vendor Spotlight
n8n: Open-source workflow automation platform with visual editor
Eliza: Open-source agent SDK (5K+ stars, 100+ forks)
Nari: Voice synthesis API for LLMs (used in gaming & CX)
Masafi: Real-time event bus for AI agents
Replit: Rapid prototyping of applications
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That’s all for now, folks. Let us know below how you like this.
Talk soon,
– Marc & Team
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