Barclays Cuts Coinbase Target to $148 as AI Payments and Stablecoin Plans Advance
Barclays reiterated a Hold rating on Coinbase and cut its price target to $148, 14% below its previous close, citing digital asset sentiment pressure on volumes. The company backed the x402 AI payment protocol with 97 million Base transactions and secured federal approval to expand its stablecoin payment products.
1. Barclays Lowers Price Target
Barclays reaffirmed a Hold rating on Coinbase and reduced its price target to $148, 14% below its previous close, highlighting that sustained outperformance likely requires elevated trading volumes and favorable crypto-price trends.
2. Support for x402 AI Payment Protocol
Coinbase introduced and backed the x402 open-source payment protocol under the Linux Foundation, logging roughly 97 million transactions on its Base blockchain to enable instant stablecoin settlements for autonomous software agents amid emerging competition from Stripe’s Machine Payments Protocol and Tempo.
3. Federal Approval Boosts Stablecoin Payments
Coinbase cleared a key regulatory hurdle to operate stablecoin payment products under federal supervision, allowing it to expand beyond custody services without taking retail deposits or engaging in fractional reserve banking, which could diversify its revenue through subscription and services offerings.