Circle co-founder to create 'AI-native' bank after $18M raise
Sean Neville, co-founder of Circle and CEO of Catena Labs, has launched a project to create an AI-native financial institution, securing $18 million in funding led by Andreessen Horowitz (a16z) Crypto. The institution aims to be fully regulated and designed for AI agents and human collaborators, operated by AI workers with human oversight. Catena Labs argues that traditional financial systems resist AI technology, hindering the growth of the agent economy. Neville emphasized that financial systems are unprepared for the economic transactions that AI agents will soon conduct. The company introduced an Agent Commerce Kit (ACK) for verifiable agent identity. AI agents can utilize traditional financial systems but are enhanced by stablecoins, described as "AI-native money," enabling low-cost, global transactions essential for their operations.
