The Linux Foundation launched the x402 Foundation on Thursday, a nonprofit governance body built around Coinbase’s x402 protocol, with backing from Google, Microsoft, Amazon Web Services, and financial players including American Express, Mastercard, Visa, Stripe, and Shopify. The protocol is designed as an open standard that allows AI agents to autonomously execute payments for APIs, data access, and digital services without human intervention. Coinbase CEO Brian Armstrong has said, “there will be more AI agents transacting online than humans very soon,” though x402 protocol activity data from Dune Analytics shows weekly transaction volumes have dropped sharply in 2026 to between 29,000 and 1.1 million after peaking near 13.7 million in November 2025.
