Google Taps Coinbase, Ethereum Foundation For New Payments Protocol With Stablecoin Support: Report

Google has reportedly launched a new payments system on Tuesday that will make it easier for AI apps to move money around, including stablecoins.

Shares of Google-parent Alphabet (GOOG/GOOGL) edged lower after the opening bell. The stock was down 0.2% at the time of writing, while retail sentiment on Stocktwits moved higher but remained within ‘bearish’ territory over the past day. 

According to a report by Fortune, the open-source protocol not only supports more traditional forms of payments, such as credit and debit cards, but also stablecoins —cryptocurrencies pegged to underlying assets, like the U.S. dollar.

The effort reportedly involved collaboration with Coinbase (COIN), which has developed its own AI and crypto payments infrastructure, as well as input from the Ethereum Foundation. The report stated that Google also consulted with more than 60 organizations spanning finance and e-commerce, including Salesforce (CRM), American Express (AXP), and Etsy (ETSY).

“The way we built it is from the ground up to factor in both heritage and existing payment rail capabilities as well as forthcoming capabilities such as stablecoins,” James Tromans, the head of Web3 at Google Cloud, told Fortune.

The launch builds on a protocol Google released in April to create a common standard for AI agents to communicate. The report said the latest release extends that framework to agent-to-agent payments, aiming to ensure transactions remain secure and aligned with human intent.

Coinbase and Google worked to make their systems interoperable, Erik Reppel, head of engineering at Coinbase’s developer platform, told Fortune. “We’re all working to figure out how we can make AI transmit value to each other,” he said.

The push comes amid a more crypto-friendly policy environment in Washington. Industry leaders, including Strategy’s Michael Saylor and Fundstrat’s Tom Lee, are scheduled to meet Congress on Tuesday to discuss President Trump’s proposed Strategic Bitcoin Reserve and the BITCOIN Act.

Read also: Bitcoin, Ethereum Trade Cautiously Ahead Of Fed Meeting – Congress To Weigh BTC Reserve

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