Three years ago, my colleague Jamie and I were literally getting laughed at for saying blockchains would power the agentic economy. Now? Portfolio managers and asset allocators are scrambling to catch up.
Back then, everyone was obsessed with adoption metrics. We'd debate whether we'd hit 700 or 800 million users by now. Turns out those numbers were completely missing the point.
The real TAM of crypto isn't humans — it's agents. Which means it's essentially infinite.
Think about it: AI agents don't have bank accounts. They don't keep business hours. They can't walk into a branch or call customer service. The only financial rails they can actually run on are programmable ones — blockchains.
This is where the currency exchange infrastructure gets interesting. Traditional money transfer systems weren't built for machines transacting 24/7 across borders. But crypto rails? They're native to this.
It's becoming really fucking clear now.
Back then, everyone was obsessed with adoption metrics. We'd debate whether we'd hit 700 or 800 million users by now. Turns out those numbers were completely missing the point.
The real TAM of crypto isn't humans — it's agents. Which means it's essentially infinite.
Think about it: AI agents don't have bank accounts. They don't keep business hours. They can't walk into a branch or call customer service. The only financial rails they can actually run on are programmable ones — blockchains.
This is where the currency exchange infrastructure gets interesting. Traditional money transfer systems weren't built for machines transacting 24/7 across borders. But crypto rails? They're native to this.
It's becoming really fucking clear now.