Key Takeaways
- Eric Richmond predicted that stablecoin-powered AI agents could grow significantly within months rather than years.
- Coinbase plans to launch crypto derivatives for Canadian permitted clients within weeks as it develops its “everything exchange.”
- Richmond said Coinbase was targeting CIRO dealer status in early 2027.
Stablecoins as a native payment system for AI agents could see significant growth potentially within months rather than years, Coinbase Canada CEO Eric Richmond has said.
Speaking to CCN at the Blockchain Futurist Conference in Toronto, Richmond argued stablecoins could provide the financial layer needed by increasingly capable AI agents.
It comes as the company is expected to begin offering crypto derivatives to eligible Canadian clients within weeks, while its longer-term “everything exchange” strategy could bring tokenized equities to the country.
Stablecoin-Powered AI Agents Could Grow Within Months
Richmond said AI agents would have “a big role to play” in the financial system, with stablecoins providing the programmable money needed for transactions.
Traditional payment systems were not designed for autonomous software capable of initiating transactions, he argued.
“You can’t really have traditional rails interact in a seamless fashion with these AI agents,” Richmond said.
Although consumer access to financial AI agents is still in its early stages, Richmond predicted that development could accelerate quickly as the underlying technology improves.
Richmond predicted that the area could experience significant growth within the next few months rather than several years.
“AI agents will definitely have a big role to play,” he said.
Richmond compared the shift with the wider evolution of generative AI, which quickly moved from basic chatbot-style tools toward agents capable of completing complex day-to-day tasks.
He pointed specifically to products including Claude and OpenAI’s Codex as evidence that AI systems were becoming more functional.
Coinbase Plans Canadian Crypto Derivatives Rollout Within Weeks
The most immediate stage of Coinbase Canada’s expansion will be the launch of derivatives for eligible clients, according to Richmond.
He said Coinbase Financial Markets, the company’s US Commodity Futures Trading Commission-regulated business, had received an international exemption allowing it to offer derivatives contracts to Canadian permitted clients.
“That product is actually going live very shortly, in the next few weeks,” Richmond said.
The planned rollout would begin moving Coinbase Canada beyond the spot market, where Richmond said the platform currently offers more than 200 crypto assets.
However, the initial derivatives product will not be available to every retail customer.
Richmond specifically said it would be offered to “permitted clients,” describing the launch as the “first iteration” of a broader effort to bring Coinbase-offered products to Canadian customers.
The ‘Everything Exchange’: Uniting Crypto, Cash and Equities
Richmond said his central priority was to transform Coinbase Canada from a pure-play crypto exchange into what the company calls an “everything exchange.”
The strategy would move the platform beyond spot crypto trading and allow customers to manage multiple asset classes through a single account.
“It’s important for Canadians to have one financial account in one place where they can seamlessly transact between their crypto holdings and their cash and their equities,” Richmond said.
He argued that blockchain-based infrastructure could make those services available around the clock, reduce costs, and eliminate the friction of holding a variety of assets with separate providers.
“Why does one account sit over here and another account sit over here?” he said. “Things should be a lot more interoperable.”
Tokenized Equities
Tokenized equities are among the products Richmond believes could broaden Canadians’ investment access.
He argued that representing shares on blockchain infrastructure could make assets in foreign markets easier to acquire, particularly when they are not readily available through a domestic brokerage account.
“What makes tokenized equities very exciting is it provides access,” Richmond said.
While Canadian investors can generally access major US-listed companies, buying shares traded in other countries can be more difficult, he added.
Richmond used South Korean-listed Samsung as an example of a major international company that can be cumbersome for an ordinary Canadian investor to buy directly.
Bank of Canada Has Stablecoin Expertise, Richmond Says
As Canada prepares its stablecoin regime, Richmond backed the Bank of Canada to take a leading supervisory role.
He said the central bank had developed relevant technical knowledge through its previous research into a central bank digital currency and had also consulted with the crypto industry.
“I definitely think it’s the right regulator,” Richmond said.
He added: “They actually have some pretty good experts internally there that had done all the work on the CBDC front.”
Richmond acknowledged that the central bank would still encounter unfamiliar issues as the market developed, pointing to its work under Canada’s Retail Payment Activities Act as another evolving area of oversight.
“Will there be things that they need to learn on the way? Of course,” he said. “But I do think they’re definitely the right regulator for this.”
He said Coinbase hoped detailed stablecoin regulations would be published during the second half of 2026, with the framework expected to take effect in early 2027.
Coinbase Wants Stablecoin Rewards Protected
Richmond said Coinbase was broadly happy with the draft stablecoin legislation, but identified customer rewards as one of the most important unresolved issues.
Stablecoin issuers can generate income from the reserves supporting their tokens.
Richmond argued that issuers and platforms should be allowed to pass some of that income to consumers through rewards.
“It’s hard for me to understand why we wouldn’t want to provide these rewards to stablecoin customers and the end users,” he said.
Richmond said Coinbase currently has an exemption from the Canadian Securities Administrators that allows it to offer rewards in digital assets, including USDC.
The platform offers Canadian customers an approximately 3% rate on USDC, he said, although reward rates can change.
“Something like that, as an example, should definitely be continued under the Stablecoin Act,” Richmond said.
A clear legal framework could also make Canadian dollar stablecoins more useful for merchants, consumers, and exchanges, Richmond said.
Although CAD-denominated stablecoins already exist, their long-term success will depend on whether businesses and retail users adopt them.
Richmond argued that merchants would be reluctant to accept stablecoins if legislation remained unclear.
“I think the Stablecoin Act enables Coinbase and makes the user experience for customers a lot more frictionless [and] cheaper,” Richmond said.
Coinbase Canada Targets CIRO Dealer Status in Early 2027
Richmond’s expansion strategy will continue to be built around regulatory compliance, a focus he said had defined his previous work at Canadian crypto companies Tetra Trust and Coinsquare.
Coinbase became the first international crypto exchange to register as a restricted dealer in Canada.
Richmond now wants the company to become a dealer regulated by the Canadian Investment Regulatory Organization (CIRO).
“My focus is actually to get Coinbase regulated as a CIRO dealer as well, which we expect to happen in early 2027,” he said.
Richmond rejected the suggestion that his custody background made him excessively cautious, arguing that it had instead prepared him to work across several levels of Canada’s regulatory system.
“I wouldn’t say it makes me necessarily extra cautious in the negative way,” he said.
“I think it’s always at the forefront, and I think Coinbase historically has done a fantastic job of being the best regulated player and safest place to custody your assets.”
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
