PitchBook-人工智能、稳定币和Stripe在下一代商业中的作用（英）

1EMERGING TECH RESEARCHThe Role of AI, Stablecoins, and Stripe in Next-Gen CommerceExploring key announcements at Stripe Sessions 2025 and the future of digital paymentsPitchBook is a Morningstar company providing the most comprehensive, most accurate, and hard-to-find data for professionals doing business in the private markets.PitchBook Data, Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligencePaul Condra Global Head of Private Markets ResearchJames Ulan Director of Emerging Technology ResearchInstitutional Research GroupAnalysisRudy Yang Senior Research Analyst, Enterprise Fintech and Retail Fintech rudy.yang@pitchbook.comDatapbinstitutionalresearch@pitchbook.comPublishingDesigned by Josie Doan and Chloe LadwigPublished on May 15, 2025ContentsKey takeaways1Introduction2Internet commerce’s evolving paradigm2Delegating is the new browsing4Rationalizing the hype behind stablecoins6Stripe’s strategic direction8Key takeaways• Browsing shifts to delegating: Agentic commerce is happening now, with Stripe Sessions showcasing AI agents completing end-to-end purchases across multiple product categories. Driving this shift are MCPs, Stripe’s new Order Intents API, and support from Visa and Mastercard for AI-powered shopping experiences.• Agent optimization is the next SEO: Product metadata must be structured for AI-agent discoverability. Businesses need to implement identity and permission protocols to distinguish legitimate delegated agents from malicious bots.• Checkout flows must serve machines: AI agents fail when confronted with redirects and disjointed UX. Embedded checkouts built for programmatic access achieve conversion rates of 1% to 11% versus 0.001% to 0.1% for “link out” flows requiring separate browser or app completion.• Stablecoins are becoming critical financial infrastructure: Industry leaders are rapidly launching new stablecoin products. Airtm, Félix Pago, and Remote use stablecoins for payroll, inflation hedging, and treasury operations. Stripe’s Stablecoin Financial Accounts enable businesses to send, receive, and hold dollar-denominated balances in 101 countries, competing with banks and cross-border payment providers. Stablecoins are also positioned as the native payment rail for AI agents through global 24/7 operation, programmable controls, and instant settlement.• Real volumes back the stablecoin hype: Stablecoin adoption is robust, with volumes growing 54% YoY to $5.7 trillion in 2024 and total supply doubling to $238 billion. PitchBook recorded $912 billion of VC investment in stablecoin businesses in 2024.2Analyst Note: Understanding the Role of AI, Stablecoins, and Stripe in Next-Gen Commerce• Expect stablecoin adoption to accelerate: Standard Chartered estimates stablecoin supply will grow to $2 trillion by 2028,1 while Stripe Sessions panelists estimated stablecoins could power 10% to 30% of global payment volume within five years. The runway is substantial, as stablecoins comprise just 2.9%