Yat Siu: Blockchain Powers AI Agents Better Than Banks
In brief
- Yat Siu predicts 50–200 billion autonomous AI agents by 2031 requiring native blockchain infrastructure
- Traditional banks cannot open accounts for AI agents; blockchain removes legal-entity gatekeeping
- Animoca Brands launched Hello Minds in February 2026 to deploy on-chain AI agents
- $10 million developer fund backs agentic applications on blockchain
- Stablecoins provide fiat-like stability without traditional finance regulatory friction
The AI Agent Problem
Siu's thesis rests on a simple constraint: banks require legal entities to open accounts, but AI agents are not legal entities. Blockchain, by contrast, treats software processes and human users with equal indifference. Siu himself manages over 200 AI agents for tasks ranging from coding to shopping, effectively stress-testing the infrastructure he's betting on.
The scale argument is compelling. If autonomous agents proliferate into the tens of billions within five years, a system that requires legal incorporation and banking relationships becomes a bottleneck. Stablecoins solve this problem by offering fiat-like price stability without the gatekeeping of traditional finance. An agent can hold, send, and receive value on-chain without ever needing a bank account.
Animoca's Bet on the Agentic Economy
Animoca Brands, founded in 2014, built its early reputation on digital entertainment and was deeply embedded in the metaverse cycle. Today, the company manages a portfolio of over 600 firms spanning AI and blockchain. Valued at approximately $5.9 billion following its 2022 peak, Animoca is now positioning itself as infrastructure for what Siu calls the "agentic economy."
In February 2026, Animoca launched Hello Minds, an initiative designed to deploy AI agents with persistent on-chain identities and native financial capabilities. Alongside the launch, the firm established a $10 million developer fund for teams building agentic applications—a direct bet that blockchain-native AI tooling will become the default.
Regional Advantage
Siu also highlights Asia's positioning in the race to integrate AI and blockchain, citing fewer cultural and regulatory barriers compared to Western jurisdictions. This framing echoes a broader narrative within the industry: that regulatory friction in the U.S. and Europe may inadvertently cede first-mover advantage to regions with lighter-touch oversight.
The question Siu poses is blunt: "when billions of autonomous AI agents need to send and receive money, who exactly is going to bank them?" His answer is clear. Blockchain offers the programmable, permission-less infrastructure that traditional finance cannot. Whether the market will validate that thesis by 2031 remains an open question.
Frequently asked questions
Why can't traditional banks serve AI agents?
Banks require legal entities to open accounts, but AI agents are not legal entities. Blockchain has no such gatekeeping—it treats software processes and humans with equal indifference, allowing agents to hold and transact value directly.
What is Hello Minds?
Hello Minds is an initiative launched by Animoca Brands in February 2026 to facilitate the deployment of AI agents with persistent on-chain identities and blockchain-native financial capabilities.
How does Animoca plan to support agentic development?
Animoca established a $10 million funding program specifically for developers building agentic applications on blockchain infrastructure.
