Google, Microsoft and Amazon Web Services are among the big technology firms backing the newly launched x402 Foundation, created to govern and standardize the x402 protocol for agentic AI payments over crypto and fiat rails.
The x402 Foundation was announced Thursday by the Linux Foundation, an open-source software nonprofit, with Coinbase contributing the x402 protocol. Other organizations expressing initial intent and support include American Express, Mastercard, Visa, Cloudflare, Shopify, Stripe, Circle, Base, Polygon Labs, Solana Foundation, Thirdweb and KakaoPay.
Jim Zemlin, CEO of the Linux Foundation, said the internet was built on open protocols and argued the x402 standard should adopt an open-source structure. Coinbase said contributing x402 to the Linux Foundation gives the protocol a “neutral, nonprofit home,” which could attract broader support from tech firms and developers than launching it under a single company.
The foundation launch arrives amid growing industry expectations that AI agents will soon become major users of blockchain payments. Coinbase CEO Brian Armstrong said there will be more AI agents transacting online than humans very soon, echoing comments from Circle CEO Jeremy Allaire that “literally billions of AI agents” could transact onchain within a few years. Former Binance CEO Changpeng Zhao has also said crypto could be the native currency for AI agents, which might autonomously handle tasks like buying tickets and paying bills.
x402 itself is an open payment standard designed to let AI agents and web services autonomously pay for API access, data and digital services across conventional and crypto payment rails.
Transaction activity for x402 surged in late 2025, peaking in early November with roughly 13.7 million transactions in the week of Nov. 4–10 and another 13.66 million the following week, according to Dune Analytics. Activity has since subsided significantly in 2026, with weekly transactions dropping into the tens of thousands up to about 1.1 million.
The Linux Foundation’s stewardship aims to provide a neutral governance model for x402 as proponents prepare for wider adoption by enterprises, payment networks and developers seeking standardized ways for autonomous agents to transact. Cointelegraph notes this coverage follows its editorial policy and encourages independent verification of details.