Circle co-founder and CEO of Ketena Labs Sean Neville has launched a project aimed at developing a financial institution that originally avails artificial intelligence.
On 20 May, Kaitena Labs, the company manufactures “AI-Oro Financial Institute,” Announced It achieved $ 18 million in a funding round led by Andresen Horovitz (A16Z) Crypto, A16Z’s Crypto and Web3 Venture Capital Arm.
Under Neville, the company aims to realize its vision of a fully regulated financial institution for the AI economy. The company said it would be made for AI agents and human colleagues and operated by AI workers with human inspection and AI-specific risk management and compliance approach.
Cointelegraph contacted Katena Labs to get more information about the project, but did not get immediate response.
Traditional financial systems are “resistant” to AI
In the announcement, Kaitena Labs argued that the traditional financial system opposed AI technology. The company said that these systems are uncomfortable for AI and agents are hindering the growth of the economy.
Neville Said In a press release that the AI agents will soon conduct most economic transactions, but said that the financial systems are unprepared.
The company said that AI agents are becoming “powerful economic participants”, and the world’s financial infrastructure cannot be maintained. Katana described the infrastructure as “slow, expensive, filled with global friction, unmasse and new opportunities and risks in AI.”
The company said that it inspired him to create an AI-origin financial institution for attempting to face challenges in existing traditional financial systems.
“This is why we are creating an AI-origin financial institution, which will give AI agents and businesses and consumers serving businesses and consumers safely and efficiently,” Neville said.
Apart from the announcement, the team also shared an agent commerce kit (ACK), which is an open-source set of patterns, components and emerging protocols for verified agent identification. The company said they use Ack as an early building block.
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AI agents like Stabecrims to use “AI-Persian” money
In the announcement, Kaitena Labs said AI agents could use traditional systems and financial rails. However, the company said that the agents acquired a superpower when they were connected with Stabecrims, which the company described as “AI-Oro Dhan”.
The company mentioned that regulated stableCoins such as USDC (USDC) enable close-secular, low cost, global transactions, which are essential for AI agents.
“Using AI-U-origin money, agents can unlock new business models and more prosperity for humans and businesses,” Kaitena Labs wrote.
https://www.youtube.com/watch?v=Jeg7vspg2GY
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