Raiffeisen Bank International (RBI), an Austrian banking group with operations across Central and Eastern Europe, is expanding its cryptocurrency push through a group-wide partnership with Bitpanda.

Bitpanda Enterprise will provide the digital asset infrastructure that RBI’s network banks can use to introduce crypto services, potentially reaching about 18 million customers, according to a joint announcement on Wednesday. Individual banks will determine their offerings and rollout based on local market and regulatory requirements, the companies said.

RBI CEO Michael Höllerer said the bank is seeing growing demand for crypto assets across its markets and is addressing it with Bitpanda.

“As a customer-centric bank, we are committed to meeting our customers’ needs in the best possible way,” he said.

A spokesperson for Bitpanda told Cointelegraph that the rollout remains at an early stage and will proceed gradually based on local market and regulatory requirements, with further details to come as individual markets are confirmed.

The partnership builds on a crypto integration launched with Austria’s Raiffeisenlandesbank Niederösterreich-Wien in 2024.

Bitpanda, which is authorized under the European Union’s Markets in Crypto-Assets Regulation (MiCA), told Cointelegraph it is regularly in discussions with banks and financial institutions exploring crypto brokerage services but declined to comment on active or confidential talks.

Related: Banks double on EU MiCA crypto provider list as share hits 23%

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Reliance on China

Fierce competition

The economic slowdown has only pushed companies in China to compete even more fiercely with each other, and their foreign rivals.

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The American Chamber of Commerce in Shanghai said this month that three-quarters of members responding to a survey saw Chinese rivals as more advanced, and that the perceived gap in product quality narrowed by 6 percentage points from last year.

For the first time since 2022, domestic competition has surpassed geopolitical tensions as the top challenge for members, the chamber said.

Artificial intelligence could be one of the biggest drivers for digital asset adoption as autonomous agents begin buying services, moving money and sourcing computing power, according to a BlackRock paper.

The asset manager argues that AI provides “machine-native intelligence” while digital assets provide the payment and settlement infrastructure agents may need to act on their decisions. An agent carrying out a task could, for example, pay for a data request, book a service or purchase computing capacity without waiting for a person to to complete.

Stablecoins are likely to be the first major beneficiary. Their relatively stable value makes them useful for pricing services, while blockchain networks can support payments around the clock. BlackRock highlights Coinbase x402 protocol as one emerging way agents to pay for online resources, including API calls. It also acknowledges that existing payments networks are adapting to agentic commerce.

BlackRock has argued that broad AI adoption may become a largely overlooked driver of demand for digital assets—particularly through machine-to-machine payments and tokenized infrastructure. In a new research paper, the asset manager links the growth of AI “agents” to the need for 24/7, programmable settlement systems, and it points to stablecoins and other on-chain instruments as likely beneficiaries.

The report, titled “The Machine-Native Economy,” also raises the possibility that AI could expand crypto beyond payments by creating a market for tokenized claims on compute resources—assets that could be traded, used as collateral, or automatically purchased as AI systems request additional capacity.

Key takeaways

• BlackRock frames AI and machine-to-machine payments as a “structural catalyst” for digital asset adoption.
• The paper argues stablecoins are particularly suited for high-frequency, low-value transactions between autonomous systems.
• It suggests compute markets could emerge where tokenized claims on processing capacity are transferred, pledged, or traded.
• BlackRock positions digital assets as potential infrastructure for an increasingly autonomous “digital economy,” an angle aimed at institutional investors.

Why AI could change the demand for payment rails

BlackRock’s core premise is that agentic AI—where software acts on behalf of users and other systems—will intensify the need for payment mechanisms designed for automation. While existing payment infrastructure can support some forms of automation, the report argues that critical steps such as account setup, credentialing, authorization, and the economics of very small transactions can still require human involvement.

In addition, the paper highlights that settlement finality and speed can differ across providers, which may not align neatly with the requirements of machine-to-machine commerce that runs continuously. Against that backdrop, BlackRock says digital assets and tokenized instruments may better fit the operational realities of autonomous transactions.

The authors specifically describe stablecoins, native cryptocurrencies, and tokenized real-world assets as suitable for machine-to-machine payments that are high-frequency and sub-cent, occurring around the clock. They add that multiple digital assets could support “agentic commerce,” but that stablecoins are likely to lead transactional usage.

Tokenizing compute capacity as a new crypto market

The research goes further than payments by identifying an opportunity in the compute sector. BlackRock describes compute as the processing power required to train and run AI systems, and it argues that as AI demand surges, companies may look for ways to control costs and manage risk with clearer access to resources.

In BlackRock’s model, claims on compute capacity could be represented as tokens. Those tokens could then be transferred, pledged as collateral, or traded—creating a potential market that broadens participation from institutional investors. The paper also claims AI agents could use such markets to automatically acquire resources as needed, aligning procurement with system demand in real time.

By emphasizing how tokenized claims could connect AI-driven resource needs with programmable settlement, BlackRock effectively reframes parts of the compute economy as a candidate for on-chain financial infrastructure.

Institutional spotlight on a long-running crypto thesis

BlackRock’s argument echoes a theme long promoted within parts of the crypto industry: AI will not only increase the volume of transactions, but also create a need for financial rails that can operate without constant human oversight. BlackRock’s contribution is the institutional framing—using research intended for a mainstream investor audience to advance the idea that digital assets could become part of the underlying mechanics of an increasingly autonomous economy.

This perspective also aligns with public comments from crypto leaders. In July, Coinbase CEO Brian Armstrong pushed back on calls for the industry to “pivot” toward AI, arguing instead that AI agents could drive demand for crypto-based financial services. Earlier coverage noted his view that AI being a megatrend does not diminish crypto’s relevance; he argued that agents would need programmable money rather than traditional banking rails.

Armstrong’s point appears consistent with BlackRock’s emphasis on machine-native settlement and automation. Where BlackRock speaks in terms of infrastructure and institutional participation, Armstrong focuses on the practical requirement for programmable payment capabilities in agent-driven systems.

Tools already emerging for automated agent payments

While BlackRock’s paper is forward-looking, it is not made in a vacuum. The input highlights that some crypto and payments firms are already building tooling aimed at enabling AI agents to transact automatically. For instance, the article notes Coinbase’s x402 protocol and Tempo’s Machine Payments Protocol, both designed to let AI agents automatically pay for online services.

It also references Circle’s introduction of agent wallets and USDC payment tools and OKX’s Agent Payments Protocol, which is described as supporting recurring payments and escrow-style arrangements where funds are released after a task’s completion.

These examples matter for investors and builders because they suggest at least some demand signals are being converted into product development. BlackRock’s research provides a macro rationale for why that direction could scale as AI agents become more common and transaction patterns become more autonomous and continuous.

For now, the big question is how quickly tokenized payment rails and compute-claim markets move from concept to real usage at scale. Readers should watch whether stablecoin-based payment workflows for autonomous agents expand beyond pilots, and whether any compute-market tokenization proposals gain traction—because that would be the clearest test of BlackRock’s “compute as a new opportunity” thesis.

Key takeaways

• Zcash remains above $1,600 after gaining 10% during the previous session.
• Weekly shielded transactions reached 62,379, their highest level since 2022.
• The newer Ironwood pool accounted for 55,549 of the shielded transactions recorded last week.
• A confirmed breakout above $1,700 could put the $2,000 psychological level in focus, while $1,595 is the nearest support.

Zcash (ZEC) continued its rally on Wednesday, trading around $1,619 after gaining 7.5% during the previous session. 

Rising use of the network’s privacy features and stronger demand for regulated ZEC investment products are supporting the token’s positive price action.

The privacy-focused cryptocurrency is also approaching the upper boundary of a bullish channel near $1,700. 

Momentum indicators remain constructive without showing excessively overbought conditions, allowing buyers to attempt another breakout.

A decisive move above $1,700 could carry ZEC into price discovery and bring the $2,000 psychological threshold into view. 

Failure to clear the resistance, however, could trigger a retreat toward support around $1,595 or the $1,422–$1,424 region.

Zcash Shielded activity reaches four-year high

Zcash’s latest rally has coincided with increased use of its shielded transaction system, which allows users to conceal certain transaction details.

Data from Blockworks shows that the network processed 62,379 shielded transactions last week. That was the highest weekly total recorded in four years, suggesting that demand for Zcash’s privacy functionality is increasing alongside its price.

The Ironwood pool accounted for 55,549 of those transactions, representing approximately 89% of the weekly total. The concentration of activity in the newer pool indicates that users are increasingly adopting the latest version of Zcash’s shielded infrastructure.

Unlike transparent blockchain transactions, shielded transfers can use cryptographic proofs to verify that a transaction is valid without publicly exposing all of its underlying information. This functionality is central to Zcash’s value proposition as a privacy-oriented network.

Increasing shielded activity may provide a stronger fundamental basis for ZEC’s rally because it suggests that network usage is rising rather than the price move being driven entirely by speculation.

One strong week does not establish a sustained adoption trend, however. Shielded transaction volumes will need to remain elevated over a longer period to demonstrate that the increase represents a durable change in user behavior.

Institutional investment products have provided another source of support for Zcash. Grayscale’s ZEC-focused product recorded $32.81 million in inflows on Tuesday, according to SoSoValue data. The inflow lifted the product’s net assets under management to approximately $979.48 million.

The sizeable daily increase indicates growing investor demand for ZEC exposure through a regulated investment vehicle. Such products allow investors to follow the token’s performance without independently purchasing, storing, and securing it.

Zcash has also gained additional institutional exposure in Europe. 21Shares recently launched a ZEC-focused exchange-traded product on Euronext, expanding the range of regulated channels through which investors can access the privacy token.

The combination of inflows into Grayscale’s product and the availability of the new 21Shares ETP points to improving institutional confidence. Continued inflows could reduce the amount of ZEC circulating freely in the market and support prices if demand remains strong.

Nevertheless, investment-product flows can reverse quickly. Traders will need to determine whether Tuesday’s inflow marks the beginning of a sustained trend or reflects a temporary response to ZEC’s recent price performance.

Zcash approaches $1,700 channel resistance

Zcash was trading around $1,619 on Wednesday, maintaining its bullish short-term structure.

On the four-hour chart, ZEC remains comfortably above its major exponential moving averages. The 50-period EMA stands near $1,424, the 100-period EMA is around $1,295, and the 200-period EMA sits at approximately $1,108.

Trading above all three averages shows that buyers remain in control across multiple short-term time frames. Their bullish alignment also provides several potential layers of support if the token experiences a pullback.

ZEC is now approaching a descending resistance line connecting the August 23 and September 19 highs. That barrier is situated near $1,700.

Meanwhile, a rising trendline connecting the September 2 and September 16 lows forms the lower boundary of a bullish channel. The structure indicates that buyers have repeatedly entered the market at progressively higher prices.

A confirmed breakout above the channel resistance could strengthen the rally and push ZEC into price-discovery territory. Under that scenario, the next notable target would be the round-number level at $2,000, representing a potential gain of roughly 25% from $1,600.

A breakout should ideally be supported by increasing trading volume and a sustained close above $1,700. A brief move beyond the resistance followed by a rapid reversal could instead signal a failed breakout.

Zcash’s momentum indicators continue to support the bullish outlook. The Moving Average Convergence Divergence indicator remains in positive territory and has crossed above its signal line. The crossover suggests that upward momentum is strengthening as ZEC tests the upper boundary of its channel.

The Relative Strength Index stands near 63. The reading is above the neutral midpoint of 50 but below the conventional overbought level of 70, indicating strong momentum without suggesting that the rally is excessively stretched.

If ZEC fails to overcome $1,700, its first support sits near $1,595, corresponding with the September 19 high. Holding that former resistance as support would keep the immediate breakout thesis intact.

Below $1,595, the next important area lies between $1,422 and $1,424. That zone combines the September 18 low with the four-hour chart’s 50-period EMA, making it a stronger potential support region during a deeper correction.

For now, rising shielded usage, institutional inflows, and constructive technical signals support the upside bias. The next decisive test is whether buyers can convert the $1,700 resistance into support and extend the rally toward $2,000.

Crypto industry groups are pivoting quickly after the U.S. Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act last week, treating the near miss as a political test run ahead of the 2026 midterm elections. With only limited time in the current congressional calendar before the next session, backers now face an uphill fight to secure another vote before broader legislative timelines shift.

On Sept. 15, senators voted 49 in favor and 50 against advancing the bill, a close procedural defeat that underscores how difficult it may be to build momentum. The outcome is already shaping how major crypto-aligned political action committees (PACs) and advocacy groups plan to direct resources during the 42 days leading up to the 2026 midterms.

Key takeaways

• The Senate’s Sept. 15 vote on moving CLARITY forward ended 49-50, sharply narrowing prospects for passage before 2027.
• Fairshake—backed by Coinbase and Ripple Labs—has announced plans to spend $30 million opposing former Ohio Sen. Sherrod Brown in the state’s 2026 Senate race.
• Industry groups argue the roll call provides a clearer map of which lawmakers may be targeted or supported in future elections.
• As of Monday, some major crypto-aligned PACs had not yet disclosed post-vote spending with the Federal Election Commission.

What the failed Senate vote changed for crypto politics

The Senate’s failure to advance CLARITY did more than delay a market-structure proposal—it effectively delivered a high-signal voting record for the crypto sector to use in election strategy. Legal and policy stakeholders said the roll call distinguishes long-term supporters from opponents, creating an immediate link between legislative behavior and political backing.

Steve Gannon, a partner at Davis Wright Tremaine, told Cointelegraph that the procedural vote “provided the industry with a very clear picture of who are long-term reliable supporters and who are not.” He added that it would be difficult for those who voted against the bill to argue that the industry should still financially support them in the midterms.

Fairshake escalates: $30 million aimed at Sherrod Brown

While some crypto advocates have indicated the CLARITY Act could return for consideration during a later window—such as a lame-duck session—at least one major PAC is acting as if time is short. Fairshake, an industry political group backed by Coinbase and Ripple Labs, said it plans to spend $30 million opposing Sherrod Brown in Ohio’s 2026 Senate race.

Brown previously chaired the Senate Banking Committee when Democrats held the majority. The prospect of his return has alarmed crypto backers because of his historically skeptical posture toward digital assets and related policy proposals.

In earlier election activity, Brown ultimately lost his 2024 reelection bid to Republican Bernie Moreno after Fairshake spent about $41 million opposing the Democrat. Cointelegraph also reported that Fairshake spent more than $130 million on ads during the 2024 election cycle—offering a preview of the scale and intensity it may apply if lawmakers who blocked CLARITY emerge as midterm targets.

Cointelegraph requested comment from Brown’s campaign and did not receive an immediate response.

Advocacy groups plan “consequences” based on votes

Beyond PAC spending announcements, crypto-aligned advocacy organizations are framing the CLARITY outcome as a signal that lawmakers could face election repercussions. Stand With Crypto, an initiative launched by Coinbase in 2023, warned lawmakers who failed to advance the CLARITY Act that they may face “consequences” in the 2026 midterms based on how they voted.

The group positions its political work around voter engagement and public accountability, arguing that election-year pressure can shift incentives for lawmakers who treat crypto market-structure legislation as low priority. Stand With Crypto executive director Mason Lynaugh said: “The results of [the CLARITY Act] vote make it clear which officials are with our community, and which are against us — and we’ll make sure our advocates are ready to cast their ballots accordingly in this and future elections.”

That framing matters because it suggests the impact of the Senate vote may extend beyond federal PAC contributions. It also implies an ongoing campaign around political messaging tied directly to specific legislative votes, rather than broad support for the industry.

Early indicators from FEC filings after the CLARITY vote

Public disclosures are beginning to show how quickly crypto-aligned groups are moving after last week’s Senate action—at least among some committees. According to Cointelegraph, as of Monday, Fairshake and its affiliate PACs Defend American Jobs and Protect Progress had not disclosed expenditures to the Federal Election Commission (FEC) following the CLARITY vote.

Similarly, FEC filing data cited by Cointelegraph showed no post-CLARITY spending by Fellowship, another crypto-aligned PAC funded by Cantor Fitzgerald and Anchorage Digital, or by the Digital Freedom Fund, a group backed by Gemini co-founders Tyler and Cameron Winklevoss.

Those gaps in immediate reporting do not necessarily mean groups are inactive; FEC reporting can lag real-time decisions, and committees may still be in the planning or ad-production phase. But the absence of new disclosures right after the vote offers a limited, observable snapshot of what has—or has not—entered the public record so far.

What to watch next

The next phase for crypto policy will likely hinge on whether CLARITY can reappear on a legislative calendar before 2027 and how quickly PACs and advocacy groups convert voting records into midterm targeting. Readers should watch for subsequent FEC disclosures, additional major race spending announcements, and any indications that lawmakers who voted against the bill are preparing a path to re-engage with market-structure legislation.