cryptonews.net
The Linux Foundation, a nonprofit organization supporting open-source software, has officially launched the x402 Foundation. At the same time, Coinbase, a cryptocurrency exchange and blockchain infrastructure company, transferred the x402 protocol to the new organization. The protocol is designed to add native payment capabilities to the internet, allowing AI agents, APIs, and applications to send and receive payments as easily as they exchange data.
The x402 Foundation will develop the protocol under an open governance model. Developers, financial institutions, cloud providers, and other members will be able to participate in its development. The goal is to create a universal payment standard that supports different payment methods, including bank cards and stablecoins, without relying on a single provider.
Since the initiative was announced in April, 40 organizations have joined the foundation. Premier members include Amazon Web Services, American Express, Circle, Cloudflare, Coinbase, Fiserv, Google, Mastercard, Monad Foundation, MoonPay, Ripple, Shopify, Solana Foundation, Stellar Development Foundation, Stripe, and Visa.
The new foundation is expected to accelerate the adoption of internet-native payments for AI applications and online services. According to the Linux Foundation, the x402 protocol can help make financial transactions a standard part of web communication, allowing software and AI agents to exchange both data and payments through the same internet infrastructure.
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