Coinbase and Linux Foundation Launch x402 for Web Payments
- Coinbase has partnered with the Linux Foundation to establish the x402 Foundation, aiming to develop a new internet payments standard.
- The x402 protocol, contributed by Coinbase, will be governed openly to allow websites to request and receive payments as part of web traffic.
- Major companies like Google, Stripe, Visa, Mastercard, Shopify, and Cloudflare are participants in this initiative.
- Solana has been an early adopter of x402, accounting for nearly 65% of its transaction volume this year.
The x402 Foundation will operate under the governance of the Linux Foundation to ensure transparency and community-driven growth in developing the payment protocol. This initiative aims to create an interoperable payment system that can handle AI-driven transactions securely across platforms.
By launching the x402 Foundation with prominent industry players involved, Coinbase seeks to establish an open infrastructure for online payments that supports agentic commerce and pay-per-request models using stablecoins. (Source)
