[BlackRock: Intelligent Agent Machine Payments, Stablecoins as the Optimal Settlement Tool] Traditional payment networks (ACH, bank cards) face limitations in high-frequency, micro-amount, uninterrupted machine-to-machine transaction scenarios, such as high account opening thresholds, uneconomical fees, and settlement time restrictions. Emerging Agent payment protocols like x402, ACP, and MPP can facilitate machine-to-machine transactions without human intervention when paired with stablecoins. Data shows that by 2025, the adjusted transaction volume of stablecoins will exceed '11 trillion USD,' reaching the same scale as Visa and Mastercard; the compound annual growth rate from 2020 to 2025 is 80%, far surpassing the 8.5% growth rate of the ACH network. As stablecoin regulatory frameworks are implemented globally, stablecoins will take on a significant role in AI agent micro-payment scenarios. At the same time, the report suggests that computing power capacity can be standardized as on-chain credentials, enabling financing, staking, and programmable delivery of computing power. In the future, standardized derivatives such as computing power futures may emerge. AI agents could directly procure and automatically settle computing power resources on demand through protocols like x402. Stripe's acquisition of OpenRouter is seen as an early industry signal of the convergence of computing power scheduling and programmable payments.