Stripe and Coinbase are building competing rails for how AI agents will pay for things. The winner will sit beneath the next trillion-dollar payments market.
Agree! We are rebuilding entire verticals but the identity layer is where the moat ends up sticking. Rails commoditize fast once two open standards exist. Whoever owns the KYA layer underwrites every transaction on top of it, and that’s a position no protocol can replicate
we noticed this x402 vs MPP framing across multiple crypto and vc newsletters this month, the identity layer is where the real money will get made
Agree! We are rebuilding entire verticals but the identity layer is where the moat ends up sticking. Rails commoditize fast once two open standards exist. Whoever owns the KYA layer underwrites every transaction on top of it, and that’s a position no protocol can replicate