Visa, Mastercard and Ripple back x402 as agent payments average 32 cents
The Linux Foundation has formalized governance for the x402 protocol, a payment standard backed by major financial and tech firms like Visa, Mastercard, and Google. The protocol enables machine-to-machine micro-payments, allowing autonomous AI agents to conduct transactions without traditional banking infrastructure.
Why it matters
The x402 protocol solves a long-standing technical hurdle for the AI economy by facilitating efficient, low-cost automated payments between machines.
The Linux Foundation said Tuesday that the x402 Foundation is now operating under formal governance with 40 members, and that Coinbase's contribution of the protocol is complete.
The report provides a technical overview of a new industry standard and its adoption by major corporations without editorializing.
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