Galaxy Digital CEO Mike Novogratz predicted that AI agents will soon be the biggest users of stablecoins, driving an explosion in stablecoin transactions. Galaxy Digital CEO Mike Novogratz said that AI agents will soon become the top users of stablecoins. During an interview with Bloomberg published on Wednesday, Novogratz said that “in the not-so-distant future, the biggest user of stablecoins is going to be AI.” He said he expects users will be able to ask an AI to buy their groceries, and have it independently engage in the necessary transactions: AI agents are autonomous software programs that can perceive their environment, make decisions, and take actions to achieve goals without constant human intervention. The primary feature that distinguishes these systems from most current AI systems is their higher degree of independence. Read more
US Bancorp resumed digital asset custody services for institutional clients following the SEC rule rollback under the Trump administration. US Bancorp has reentered the crypto space by relaunching its digital asset custody services aimed at institutional investment managers. US Bancorp’s reentry follows a regulatory shift under President Donald Trump’s current administration, which rolled back a previous SEC rule that had forced banks to hold capital on their balance sheet for crypto-related activities, according to a Wednesday report by Bloomberg. “We had the playbook and it’s sort of opening it up and executing it again,” said Stephen Philipson, head of US Bank’s institutional division. He noted that the bank plans to scale the service as demand grows and is also exploring how digital assets might fit into other areas like wealth management and consumer payments. Read more