Linux Foundation3 months ago
News Editor Linux Foundation formally launches x402 Foundation with 40-company governance structure
The Linux Foundation has formally launched the x402 Foundation, according to The Block, setting up a governance structure made up of 40 member companies while Coinbase has already contributed the protocol. Founding members named in the report include Ripple, Visa, Mastercard, American Express, Stripe, Adyen, Fiserv, Shopify, Google, AWS, Cloudflare, Circle, MoonPay, the Solana Foundation and the Stellar Development Foundation. The x402 protocol lets servers answer requests with a 402 response code and a price, after which clients sign a stablecoin transfer, usually in USDC, and resend the request to access data. The design removes the need for accounts, credit cards, or a preexisting relationship between the two sides, and the report said it is naturally suited to AI agent use cases. The move follows an April update that said x402, a neutral internet payments protocol incubated by Coinbase, would move under the Linux Foundation and operate through an independent x402 Foundation.