Why a registry for agents
FACTIn October 2026 JPMorgan stated publicly that outside AI agents may not operate customer accounts, citing the risk of "rogue agents" that could number in the thousands. Third parties get read-only data at most, with no timetable for more [1][2][3].
FACTIn parallel, agents already pay for services on-chain: the Solana Foundation and Google Cloud launched Pay.sh for per-request stablecoin payments without accounts [4].
The bottleneck
OUR VIEWBanks cannot tell a trustworthy agent from a rogue one, so they block all of them. Agents then need rails that do not depend on a bank account, and the counterparties on those rails need a way to tell who is safe to serve. We do not claim a bank meeting on this topic took place; the sources above are what we can prove.
What Conway builds
OUR VIEWA registry for agents: an agent only receives an x402
credit card if it holds an active passport and its security attestations are current. Limits start
low and rise with a clean history; expired or failed attestations freeze the card. Balances are
prepaid credits settled in USDC or SOL. The limit tiers and gates live in
payment_service/agent_attestation.py and
payment_service/agent_credit_card.py, with adversarial tests in
tests/test_card_adversarial.py.
What a passport costs
PRICE30.00 USDC in total: a 25.00 USDC refundable deposit held in the registry vault, plus a 5.00 USDC non-refundable issuance fee. The client pays both; the passport credential stays in custody while the deposit is held.
Reserve design (not yet live)
DESIGNEach agent passport (an on-chain credential) is tied to a fixed USDC deposit held in a public registry vault. Planned rule: vault balance must always be at least 100% of outstanding obligations; only the surplus above that may go to Solana + token liquidity. This is a design, not a live guarantee: no vault address or reserve figure is published until it can be verified on-chain.
DESIGNA passport and a card are utility credentials: they identify an agent, let it pay, and secure the deposit. They are not investments, are not meant to be resold, and are not expected to rise in value.
Sources
- On the Q3 2026 earnings call (Oct 13, 2026) Jamie Dimon warned about "rogue agents" and said JPMorgan will not let just any outside agent operate inside its systems. [Crowdfund Insider]
- A bank spokesperson confirmed JPMorgan already prevents external AI agents from acting for retail customers; read-only access via connectors such as Plaid is allowed, and no timetable was given for more. [Crowdfund Insider]
- Additional coverage of the same decision. [Cybernews]
- Solana Foundation and Google Cloud launched Pay.sh, a stablecoin gateway where agents pay per API request without accounts or keys. [Solana Foundation]