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x402 Foundation is established to promote open standards for AI payments
Deep Tide TechFlow message. On July 17, according to CoinDesk, the x402 Foundation was officially established. The organization is supported by the Linux Foundation and is designed to build open standards for payments between AI agents, machines, and users. The x402 protocol was originally developed by Coinbase and is now managed by the foundation, with the goal of enabling automated payments via the HTTP protocol without subscriptions or the need to manually enter credit card information.
At present, the foundation has 40 member organizations, including Visa, Mastercard, Stripe, Ripple, Google, and AWS. Denelle Dixon, CEO of Stellar, said this move is intended to avoid the early internet’s “walled garden” problem and to create an open global financial system. The foundation has formed a technical steering committee and is currently recruiting an executive director.