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x402 Protocol Now Live on Arbitrum Network
On May 14, Arbitrum announced that the x402 protocol, developed by Coinbase, is now live on the Arbitrum network. This protocol enables developers to allow AI agents to directly use stablecoins for payment of APIs, services, and software fees. The x402 protocol is named after the unused HTTP status code 402 ‘Payment Required,’ which allows websites, APIs, and AI bots to request and receive instant micropayments through both blockchain and traditional payment channels. The protocol is managed as an open standard by the x402 Foundation, a subsidiary of the Linux Foundation, and has received support from over 20 organizations and crypto companies, including Cloudflare, Stripe, AWS, Google, Visa, Base, and the Circle and Solana Foundations.