Points of Focus

• Jeremy Allaire said AI agents and blockchain will power one onchain economy.
• Stablecoins could become the default payment layer for AI-driven commerce.
• The publication presents a long-term vision rather than a Circle product announcement.

Circle co-founder and CEO Jeremy Allaire has published a personal treatise arguing that AI and blockchain are evolving into the same economic system, outlining a future where autonomous software agents perform work, transact with stablecoins, and coordinate through public blockchain networks. The publication presents Allaire’s long-term vision for how digital finance and AI could develop rather than announcing a new Circle product or corporate strategy.

In a post on X, Allaire said he had spent years developing The Agentic Economy, describing it as his vision for how AI systems and blockchain networks could converge into a single onchain economy.

Today I'm sharing something I've been building toward for years: The Agentic Economy, a treatise on the convergence of intelligence and the economy.

As AI agents take on the work of the firm and value moves natively on open, programmable networks, the agentic economy and the…

— Jeremy Allaire – jerallaire.arc (@jerallaire) July 12, 2026

AI agents and blockchain form a shared economic framework

The treatise argues that AI has become an operating system for intelligence, while blockchain provides the operating system for economic activity. Allaire argues that combining the two technologies would allow AI agents to perform work, execute contracts, exchange value, and access financial services without relying on traditional organizational structures.

The treatise also argues that companies could become smaller and more modular as AI agents take over specialized functions. Rather than organizing work through large departments, businesses could increasingly rely on AI orchestrators that divide objectives into specialized tasks handled by software agents across functions such as engineering, finance, legal, marketing, and customer support. Humans would continue setting objectives, reviewing outputs, and approving decisions that require judgment.

Stablecoins and identity underpin the proposed onchain economy

Allaire also argues that an open market of AI agents would require shared infrastructure for identity, payments, accountability, and settlement. His framework places blockchain at the center of that system, using cryptographic verification, wallets, and verifiable credentials to establish trust between autonomous agents operating across organizations and jurisdictions.

The monetary layer relies on fully reserved stablecoins, which the treatise describes as suitable for machine-to-machine payments because they support programmable transfers, continuous settlement, and predictable value. Above that foundation, smart contracts coordinate agreements, while AI agents perform economic activity.

The treatise comes as technology companies accelerate investment in AI agents and financial companies expand stablecoin infrastructure, bringing fresh attention to how autonomous software could participate in digital commerce. At the same time, many of the ideas outlined in the treatise depend on broader adoption, regulatory progress, and the development of trusted identity systems before they could operate at a global scale. Allaire frames those developments as a long-term direction for the internet economy rather than an immediate roadmap for the industry.