TRM Labs: AI Agents Account for Tiny Share of x402 Payments

Blockchain intelligence firm TRM Labs found AI agents account for just 0.6% to 7.5% of commerce on Coinbase's x402 payment protocol. After screening $52.7 million across 198.9 million settlements since May 2025, researchers estimated only $25.62 million represented likely commerce. The report notes current models cannot conclusively distinguish agents from automated scripts.