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Good morning. How do you plan to move your company\u2019s money when AI agents start doing the buying and selling for you? And how can you make sure that agentic commerce is accurate, compliant, fast, and smart? A year after the GENIUS Act passed, a wave of new stablecoins, platforms, and partnerships point to how the ecosystem is taking shape.<\/p>\n
The most compelling scenario I\u2019ve seen so far comes from Circle CEO Jeremy Allaire, who last week published an 18,500-word treatise called The Agentic Economy. (There are several iterations available, including a 60-second version.) He argues that the \u201cplanetary nervous system for information\u201d must now be matched by a \u201ccirculatory system for value.\u201d If AI is the new operating system for intelligence, blockchain is the new operating system for the economy. In other words, Allaire writes, \u201can economy run by software agents must run on software money, software contracts, and software governance, or it cannot run at all.\u201d<\/p>\n
Allaire, of course, makes the case for Circle\u2019s USDC, a regulated stablecoin that can be redeemed 1:1 for U.S. dollars, along with the growing ecosystem around it. Among other things, the global fintech company just got approval to establish a federally regulated national trust bank. There\u2019s a lot happening across this space that leaders should pay attention to:<\/p>\n
Stablecoin innovation: You may know Tether, the popular and controversial stablecoin issuer from El Salvador with ties to the family of Commerce Secretary Howard Lutnick. (Here\u2019s a terrific feature from my colleague Jeff John Roberts.) New offerings are emerging. Keep an eye on Open Standard, which is partnering with Stripe, Visa, Blackrock and about 140 other firms to launch a new stablecoin this year called Open USD. Instead of the reserve income being held by a single issuer, it\u2019s shared with partners who can also mint and redeem tokens at no cost. Why would consumer brands like Walmart, Amazon and Starbucks launch their own stablecoins? It could let them bypass credit card fees to securely settle transactions at a fraction of the cost.\u00a0\u00a0<\/p>\n
New ecosystems: The winners of today might not dominate the onchain economy of tomorrow. In Visa\u2019s second-quarter earnings call last week, CEO Ryan McInerney predicted agentic commerce \u201cwill expand our addressable market,\u201d with stablecoins and blockchain showing \u201csignificant opportunities\u201d for growth. Visa launched a new platform last week to provide stablecoin services to more than 200 million merchants. SWIFT, the network linking more than 11,500 financial institutions, now has a blockchain-based ledger. Circle\u2019s Allaire, meanwhile, has told me about the power of building a full-stack platform, from the open-source Arc blockchain infrastructure to nanopayments for agents in the application layer, from coins to compliance.<\/p>\n
Winners: The landscape keeps shifting, from Stripe\u2019s bid to buy PayPal to new currencies and platforms. Guidelines for managing agentic commerce are evolving as the technology is put to use. Look at who is attracting respected talent to their teams, top developers to their platform and top partners into their ecosystem? Putting a toll booth on a popular and safe highway that everyone wants to use is better than trying to monetize access to a neighborhood that people don\u2019t know or trust.<\/p>\n
Contact CEO Daily via Diane Brady at diane.brady@fortune.com<\/p>\n
Top leadership news<\/p>\n
Inside United\u2019s \u2018premiumization\u2019 strategy<\/p>\n
United Airlines has spent years training passengers to pay more for roomier seats, perks, and loyalty benefits, and that \u201cpremiumization\u201d push is paying off. Higher-yield cabins are helping offset a fuel-cost shock and lift revenue even as basic fares stay under pressure. The strategy is turning United\u2019s best seats\u2014and the passengers who buy them\u2014into the core engine of its earnings story.<\/p>\n
Trump\u2019s choices as Iran war resumes<\/p>\n
The Trump administration appears to have lost the upper hand in the Iran war and faces a stark choice: escalate the conflict in a prolonged morass resembling Ukraine or capitulate and let Iran control the world\u2019s leading energy artery with the ability to charge service fees for passage and recoup costs, a toll in all but name.\u00a0<\/p>\n
Bond market greets new U.K. leader<\/p>\n
Andy Burnham will become the United Kingdom\u2019s seventh prime minister in a decade today. \u201cBut investors know it\u2019s the bond market that will call the shots in the $4.2 trillion economy no matter who sits in the prime minister\u2019s office,\u201d wrote Wall Street veteran Ed Yardeni, who coined the term \u201cbond vigilantes.\u201d<\/p>\n
The markets<\/p>\n
S&P 500 futures are up 0.23% this morning. The last session closed down 1.01%. The STOXX Europe 600 was up 0.02% in early trading. The U.K.\u2019s FTSE 100 was down 0.31% in early trading. Japan\u2019s markets are closed today. South Korea\u2019s KOSPI is down 4.46%. China\u2019s CSI 300 was up 1.53%. Hong Kong\u2019s Hang Seng was up 2.36%. India\u2019s NIFTY 50 was down 0.40%. Bitcoin was up at $64K.<\/p>\n
Around the watercooler<\/p>\n
The world is looking ahead toward a post-Iran oil market that offsets most Hormuz volumes in a few years as ships reject a U.S.-backed alternate route by Jason Ma<\/p>\n
Red Lobster\u2019s 37-year-old CEO waited tables before joining the C-suite\u2014he says it was a crash course in managing \u2018difficult people and situations\u2019 by Preston Fore<\/p>\n
SpaceX stock falls back to earth shortly after Wall Street analysts release florid targets: \u2018Paving the superhighway to the stars\u2019 by Shawn Tully<\/p>\n
\u2018Right to repair\u2019 is coming to cars, but there\u2019s still this big blind spot as consumers demand more autonomy by Joshua Hong<\/p>\n
CEO Daily is curated and edited by Joseph Abrams, Jason Ma, Claire Zillman, and Lee Clifford.<\/p>\n
#Agentic #commerce #comingand #battle #build #infrastructure<\/p>\n","protected":false},"excerpt":{"rendered":"
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