Exclusive: Alipay+'s proposal to link with India's instant payments system for cross-border transactions has been stalled due to national security concerns in New Delhi and questions about the storage and use of customer data

Ant Group has rolled out a new Know Your Agent trust infrastructure for Alipay as the tech industry races to solve the security and liability hurdles slowing the commercial adoption of AI-driven payments

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Muse, Instinct, and your AI agent are about to need an ID. Visa, Mastercard and Alipay are writing the spec. Muse, Grok Bot and Instinct all launched in the last few weeks, and all three will spend your money. Grok Bot, Muse and Instinct all get a single-use card from Stripe for every purchase you approve. Early users describe waking up to things their agent bought overnight. --- This works for now. But not every merchant will work with this. They'll want different wallets. And they'll need to know who the person is behind the agent. They'll need to Know Your Agent. We have some experience in Know Your... [Insert entity here], for example: --> KYC (Know Your Customer): before a bank opens an account, it checks that the person is who they claim to be. --> KYB (Know Your Business): the same check on a company, its directors, and whoever ultimately owns it. --> KYA (Know Your Agent) is the version for software. On Thursday Ant International, Mastercard and Visa said they are building a shared KYA framework. --- Each network had already built its own: - @Visa: Trusted Agent Protocol - @Mastercard: Verifiable Intent - @AlipayPlus: Agentic Mobile Protocol Now they're smooshing those together with a framework that checks: Who operates this? Agents are linked to a validated operator, cardholder, or business. Who certified this? Agents are assessed against security and behavioral requirements. What did it do before? Every agent is scored on identity and transaction signals as it goes, and can lose its certification. --- Baking in ongoing monitoring is SMART. KYC happens once at onboarding (although you should do it "continuously"; many still don't, and how monitoring happens varies wildly). KYA happens on every transaction. Ant's CIO says the signals will include capabilities, behavior and execution performance. That looks like a credit file for agents, but one that updates in real time. A good agent builds a reputation it can carry across networks. A bad one gets locked out of all of them at once. Visa and Mastercard's product is trust between strangers buying and selling. Agents are the new strangers. --- Now the scale. Ant International's Alipay+ connects 150 million merchants to 50+ wallets and 2 billion user accounts. Alipay AI Pay, its AI-native payment product in China, passed 100 million users in February and ran 120 million transactions in a single week over Chinese New Year. The agents launched in San Francisco. The rulebook for trusting them is being written in Singapore, on a platform convened by MAS, with both Western card networks and a wallet network of 2 billion accounts at the same table. In a world that feels more polarized than ever, this is a surprisingly global move from Alipay. This is one of those tiny signals that will be a huge deal in a few years time. Pay attention and you can plan accordingly.

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Stablecoins aren't just a US story. @John1wu spoke to @LowBeta on what @avax is quietly building across Asia and LatAm: ↳ @StraitsX + Monetary Authority of Singapore. ↳ @Alipay and GrabPay rails. ↳ Nonco doing on-chain FX in LatAm. ↳ @rain as the on/off ramp. The non-US stablecoin universe is here.

.@Stanford Professor @RuizheJia at @EASYResidency workshop: "Stablecoin-based payments can be one of the biggest shifts in financial infrastructure (esp in fragmented markets). Everyone has to think about who’s going to win the payment world — and what the killer apps on top will be." Alipay and WeChat Pay proved the playbook: own the payment layer, and you become the entry point for savings, lending, investing, and everything. For many regions, stablecoins are the next version of that story. We’re still early.