Coinbase launches $15,000 grant program to integrate AI with decentralized apps
Coinbase launches $15,000 grant program to integrate AI with decentralized apps
Coinbase, one of the leading cryptocurrency exchanges in the United States, has unveiled a grant initiative aimed at overcoming key challenges in the development of AI-powered dApps.
The crypto exchange has announced a $15,000 grant program through its Coinbase Developer Platform (CDP) AI Builder Program, specifically designed to support projects that integrate AI with blockchain technology.
The grant program seeks to address a significant hurdle in AI-driven application development: the inability of AI agents to perform financial transactions autonomously. According to Coinbase, traditional AI agents cannot obtain a bank account to send or receive automated payments, which limits their utility in real-world applications.
By building on-chain solutions, Coinbase aims to bypass these limitations. The exchange's multi-party computation (MPC) wallets, which are programmable and secure crypto wallets controlled by APIs, enable AI agents to send and receive payments in USD Coin (USDC) on the Base network without fees. Additionally, these wallets allow AI agents to earn yield on their USDC balances.
Under the new program, Coinbase will award $3,000 each to three selected projects that develop AI bots using its MPC wallets. These grants are intended to encourage innovation at the intersection of AI and blockchain, fostering the creation of new dApps that can automate complex tasks, including financial transactions.
Coinbase CEO Brian Armstrong has been vocal about his vision for the future of AI in the economy. In a recent post at X, Armstrong highlighted the potential for large language models (LLMs) to hold crypto wallets, facilitating payments for goods and services on behalf of users. He suggested that the ability for AI agents to participate in the economy will become increasingly important.
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The AI Builder Program represents Coinbase's commitment to advancing the capabilities of AI within the blockchain ecosystem. By providing financial incentives and technical support, Coinbase hopes to accelerate the development of AI-powered DApps, potentially revolutionizing how these applications interact with the broader economy.
