Coinbase announces partnership with Cloudflare to establish the x402 Foundation

ChainCatcher news, according to the official blog, Coinbase announced a partnership with Cloudflare to jointly establish the x402 Foundation, aimed at establishing x402 as the universal standard for AI-driven payments. Coinbase stated that the x402 protocol is fundamentally transforming the way internet payments are made. By utilizing the HTTP "402 Payment Required" status code, x402 embeds payments directly into web interactions, allowing AI agents, APIs, and applications to conduct value transactions as easily as exchanging data. This innovation eliminates the friction of traditional payment systems and paves the way for a new era of automated, scalable commerce.

The x402 Foundation will focus on the following areas:

1. Governance: Establishing x402 as a neutral, open standard that encourages adoption by developers, businesses, and AI platforms.

2. Ecosystem Development: Supporting developers in building on x402 by providing funding, tools, and resources.

3. Interoperability: Ensuring that x402 can operate seamlessly across different platforms, industries, and regions.