I’m really excited to share this episode, because it’s a glimpse of the future — specifically, the future of money, talking with two people who are redesigning it for the age of AI and, specifically, AI agents. Bob Bench and Anders Brownworth have been at the center of some of the most important developments in digital money over the past decade and are now the co-founders of Radius.
I’ve known Anders for years, and Bob and I have crossed paths many times (I actually knew his father, Bob Bench Sr, from years ago at the OCC). So I was especially glad to sit down with them a few weeks ago in Boston, near the MIT campus, and dig into what they’re building and why it matters so much. Both were deeply involved in creating USDC at Circle, and later helped lead Project Hamilton at the Federal Reserve, which explored what a digital dollar could look like. Now, with Radius, they’re taking those lessons and pushing into new territory.
At a high level, they’re trying to solve a deceptively simple problem: how to make moneymove on the internet as easily as data does. The trick is that, once we imagine a world where not just billions of people, but billions of AI agents are transacting, the requirements for speed, cost, and scale change dramatically.
One of the most interesting themes in our conversation is that cost, more than speed, may be the real unlock. If transactions become cheap enough, entirely new money use cases start to make sense. That’s especially true in a world of “agentic” commerce, where AI systems initiate payments and the volume of transactions can explode – but not if there are high fees or friction.
Another theme of today’s show is the role of stablecoins in this transition. Most consumers aren’t directly using them yet, but machines increasingly will. That creates a different path to adoption, and raises important questions about trust, infrastructure, and how financial systems evolve when the primary users may not be human.
Anders and Bob share fascinating insights on what it will take to build a system of agentic commerce, including how to address impacts on privacy and risks of financial crime. As Bob says, the “big bet” of Radius is that in five years, there will be more AI agents in the financial system, than humans.
On the policy side, my guests offer a compelling perspective on how today’s regulatory frameworks, most of which were designed decades ago, may not fit a world of microtransactions measured in fractions of a penny. It’s a reminder that we need to think more clearly about trade-offs as technology reshapes the system.
Anders Brownworth was a senior engineer at Circle where he helped create USDC, now the world’s second largest stablecoin. He was the head engineer on Project Hamilton, the Federal Reserve’s digital dollar project. He co-founded Radius and is also a Research Affiliate at the Digital Currency Initiative at MIT where he is working on stablecoin technical topics.
Robert Bench
Robert Bench is the CEO and co-founder of the stablecoin network, Radius. Earlier in his career, Bob led all regulatory, compliance, and policy efforts for Circle, including the legal and compliance design of USDC. After Circle, Bob founded and led the Federal Reserve System’s CBDC research division, and produced Project Hamilton as part of that effort. In addition to his work at Radius, Bob is a senior advisor at the MIT Media Lab. Earlier in his career he was a bank regulator.
More for our Listeners
Upcoming Shows
Guess what? We’re coming up on our 250th episode of Barefoot Innovation — it’s our next episode. We have something really special planned, so watch for that!
We also have a fantastic show coming up with the innovators at the UK Financial Conduct Authority. We have an episode coming with Wendy Teleki at the World Bank and Tatiana Alonso from CGAP, on disaggregating gender data in financial services. We’ll have an episode with Yaya Fanusie at Aleo, who is building a privacy-first blockchain using “zero-knowledge” technology. And we have a fascinating conversation with Meredith Turner of Column Bank, with a peek into the future of bank/fintech arrangements and with it, a whole new vision for doing compliance.
AIR events:
Inside Africa’s Stablecoin Future: Key Insights from the Playbook for Policymakers (April 28, 2026, Virtual Webinar) – Join AIR, GDF, CGAP & MIT DCI for a deep dive into Africa’s emerging stablecoin landscape. This webinar explores key insights from a new regulatory playbook, highlighting risks, opportunities and policy approaches shaping digital finance across the region.
Fairness by Design TechSprint (April 29-30, 2026, Atlanta, GA) – AIR and Consumer Reports are convening builders and everyday consumers for the Fairness by Design TechSprint, a hands-on session to co-create more transparent, accountable and user-centered digital financial tools.
Third-Party Risk Management Roundtable (May 5, 2026, Washington, D.C.) – Third-party relationships have become vital across the financial system. The Consumer Bankers Association and AIR are hosting an invite-only roundtable convening cross-sector leaders to identify opportunities and reasonable solutions to strengthen third-party risk management (TPRM).
AIR Speaking Engagements:
ABA’s Risk and Compliance Conference (May 5, 2026, Charlotte, NC) – Join Jo Ann at the ABA RCC for everything you need and more to get ahead of critical risks and regulatory changes.
AWS Summit Washington, D.C. (July 1, 2026, Washington, D.C.) – Jo Ann is speaking at this event where the latest in cloud innovation comes to life.
Money 2020 USA (October 21, 2026, Las Vegas, NV) – Both Jo Ann and Nat Weber will be speaking at this year’s event. Jo Ann will have a main stage discussion on how AI will – and should – change the bank compliance function, with Raj Date and Konrad Alt.
