Coinbase's x402 Protocol Shifts to Open Governance with Linux Foundation

Coinbase's x402 protocol has been transferred to the Linux Foundation, marking a significant shift towards open governance.

This move is backed by major tech and finance firms, including Amazon Web Services, American Express, Google, Microsoft, Visa, Mastercard, Polygon Labs, Solana Foundation, Stripe, Shopify, Cloudflare, and others.

The x402 protocol aims to create a universal payments layer for the internet, which has been missing since the early days of the web.

This development comes as AI agents are expected to outnumber humans in online transactions. As mentioned by Coinbase CEO Brian Armstrong, every AI agent deserves a crypto wallet, and native payment capabilities tied to crypto wallets will be essential in this transition.