Linux Foundation launches x402 payments group with 40 members

The Linux Foundation has launched the x402 Foundation with 40 finance and technology organisations backing an internet payments protocol designed to work directly within web interactions. The initiative brings together payments networks, cloud providers, crypto infrastructure groups and fintech companies around a standard intended to support transactions across AI agents, APIs and applications.

The foundation will serve as an open-governance body for x402, according to the Linux Foundation. Its role is to coordinate work by developers, financial institutions, cloud providers and other participants as they shape the protocol’s future development.

The protocol was contributed by Coinbase, according to the announcement. x402 is designed to place secure payment functions inside HTTP-based interactions, allowing software systems to send and receive payments in the course of exchanging data. The supported payment methods span conventional cards and stablecoins, according to the Linux Foundation.

The structure is intended to keep the protocol under vendor-neutral governance. Founding members have committed to collaborative development of the standard, with the stated aim of preserving an open and interoperable internet payment layer that is not controlled by a single provider.

Jim Zemlin, chief executive of the Linux Foundation, linked the project to the growth of automated commerce. “AI agents and automated systems are becoming active participants in the global economy, yet they have lacked a native, secure way to transact,” Zemlin said. “The operational launch of the x402 Foundation marks a vital milestone in establishing an open, community-governed standard for payments over HTTP. By bringing together leading companies across finance, technology and more, we're ensuring that the payment layer of the internet remains neutral, highly interoperable and ready to support digital commerce.”

The member list includes established card networks, large technology platforms, payment processors, blockchain foundations and digital-asset companies. Premium members named by the Linux Foundation include Adyen, Amazon Web Services, American Express, Circle, Cloudflare, Coinbase, Fiserv, Google, Mastercard, Monad Foundation, MoonPay, Ripple, Shopify, Solana Foundation, Stellar Development Foundation, Stripe and Visa.

General members include Aleo, Fireblocks, Galaxia Moneytree, Hecto Financial, Injective, KakaoPay, Kite AI, LayerZero Labs, Merit Systems, NEAR Foundation, Orthogonal, Polygon Labs, Quant Network, SKALE, t54 labs, utexo, World Liberty Financial and zerohash. Associate members include BSV Association, Cardano Foundation, Casper and Japan Contents Blockchain Initiative, and OMA3.

The effort sits at the intersection of payments infrastructure and machine-to-machine commerce. In practical terms, a common protocol could allow a web service, an application or an autonomous agent to request and complete a payment as part of an online interaction, rather than relying on a separate checkout process or proprietary integration. The Linux Foundation’s governance model is aimed at giving financial and technology participants a shared forum for deciding how that capability develops.

This story draws on original reporting from Finextra Research.