X402, stablecoins, and crypto infrastructure will continue to disrupt the existing payment system.

x402 is so important for stablecoin payments that some (like Lincoln Murr) have likened it to a "Trojan horse." This is a very apt analogy. This Trojan horse is not just about using "stablecoins." It gradually impacts users in three ways, thereby reshaping the financial payment network.

Previously, stablecoin payments required users to: open their wallet → connect → sign the transaction → pay gas fees → wait for confirmation. This process is too complicated for most non-crypto native users, as creating a crypto wallet already excludes 90% of users.

The x402 process (for users) is: open paid content (such as a paid short film) → browser/wallet pops up "3 USDC required," click "Allow" → payment complete, content immediately unlocked.

Users don't need to know that they're paying with stablecoins (like USDC), to a specific blockchain (Base), or to an AI agent. It feels "as smooth as using Apple Pay." For users without stablecoins in their wallets, the agent can advance the payment, instantly purchasing USDC via Apple Pay/credit card, with the background automatically creating an embedded wallet (e.g., Privy SDK/Passkey). Behind this simple user payment process is pushing all the complexity to the backend. For example, the agent automatically selects the cheapest blockchain/exchanges for stablecoins/covers gas fees. The standardized and minimalist protocol of x402 allows any website/AI application to accept stablecoin payments from any blockchain with just a few lines of code. Firstly, it subtly changes the landscape of the "payment network." Users think they're using a "new internet version of Apple Pay," but the payment is actually going through an on-chain network (like Base/Arbitrum/Solana), not Visa, MasterCard, Apple Pay, Pix, etc. This means that in the future, some aspects of micro-payment routing, clearing and settlement, data, fees, rules, review, and revenue will gradually be taken over by supporting public chains/L2 ecosystems and stablecoin issuers, and the traditional payment network market will be partially eroded. Secondly, it subtly changes the user's "wallet and identity." When a user clicks on an "Apple Pay-style payment," the backend can automatically create an embedded wallet for the user (such as a passkey device-level self-custodied/Privy custodied private key). Subsequent on-chain operations, including depositing/borrowing/investing/trading, can then be linked to this wallet. This is a globally universal on-chain financial wallet/identity. Thirdly, it subtly changes the "final settlement layer of currency and value." Users initially pay in fiat currency, which is converted into stablecoins such as USDC, and some of these stablecoins remain on-chain rather than returning to the traditional banking system. This money, on-chain, is used by AI agents to pay other AI agents; creators receive stablecoins, convert them into ETH for staking to earn interest; project teams use it to buy government bonds to generate more stablecoins. In this way, a portion of the stablecoins flowing into the chain becomes on-chain liquidity, circulating as crypto dollars, rather than flowing back into the traditional financial system. In summary, **X402 + stablecoins + crypto on-chain infrastructure will gradually and continuously impact the existing payment system**, not only by utilizing stablecoins but also by transferring money, credit, identity, and data into a parallel financial universe. During this process, the user experience is similar to traditional internet payment. Therefore, this can be considered a Trojan horse.