x402 is dominating the conversation lately — Coinbase's innovative open payment protocol

x402 has become a constant topic of discussion recently. Launched by Coinbase in early 2025, this open payment protocol establishes a blockchain-agnostic micro-payment framework, drawing inspiration from the HTTP 402 status code as its core concept.

Designed for AI agents and autonomous transactions, it enables instant settlement in stablecoins such as USDC, eliminating the need for account sign-ups, subscriptions, or intricate signature processes. x402 introduces a fresh transaction model that bridges Web2 and Web3.

Envision a scenario where an on-chain AI follows your command to purchase a MacBook: it configures the exact specifications, scours the web for optimal pricing, and instantly pays the selected merchant via the x402 protocol.

No platform account is required, and there's no reliance on subscriptions or credit cards. x402 simply handles payments on behalf of your agent.

We are experiencing an extraordinary era where AI will permeate every aspect of daily life.

What exactly is the x402 protocol?

In simple terms: x402 represents Coinbase's new payment protocol, allowing AI agents to pay for services using USDC or similar stablecoins without account creation or subscriptions—all completed in seconds. Its foundation lies in a nearly overlooked HTTP status code: 402 Payment Required. Coinbase has revitalized this concept, aiming to make payments as effortless as loading a webpage—a fundamental internet-native primitive.

Currently, everyday users should prioritize three key areas: payments, AI identity, and funds provenance/tracing.

The three essential roles in x402

• Buyer: the AI agent
• Seller: the service provider
• Transaction channel: the x402 protocol

Technical references:

• EIP-3009 spec: https://eips.ethereum.org/EIPS/eip-3009
• ICRC-1 standard: https://github.com/dfinity/ICRC-1
• x402 protocol docs: https://github.com/coinbase/x402
• ICP developer docs: https://internetcomputer.org/docs

For instance, consider a meme project named Ping. Traditionally, users would register accounts and undergo KYC to access its services or tokens (PING). With x402, direct purchases are possible. In this case:

• Buyer: a player
• Seller: the meme project team
• Channel: x402 protocol

The transaction process resembles familiar on-chain transfers, but instead of ERC-20 methods, it's managed through x402. Primarily, x402 is tailored for autonomous on-chain transactions by AI agents.

AI agents meet cryptocurrency: a novel stablecoin payment flow

Key attributes

• Machine-to-machine payments: AI agents can independently complete commercial exchanges.
• Cross-chain compatibility: Supports networks like Base, Solana, Polygon, NEAR, and others.
• Enterprise-grade backing: Involves Coinbase, Cloudflare, Visa, Google, AWS, and more.
• Open standard: The x402 Foundation drives ecosystem growth.

Prominent ecosystem projects excelling with x402

PayAINetwork ($PAYAI)

• Market cap: ≈ $4.8M (fully diluted)
• Funding: $5M seed round led by Borderless Capital (May 2025)
• Core business: B2B/B2C agent marketplace where autonomous agents settle in USDC via x402
• Tech progress: v1 PayAI accelerator deployed on Base; processed over 42,000 autonomous microtransactions since July 2025

daydreamsagents ($DREAMS)

• Market cap: ≈ $7.6M
• Funding: Angel round with Solana Ventures and Archetype involved (Apr 2025)
• Core business: TypeScript-first framework; DREAMS Router accepts USDC micro-payments via x402 for model inference
• Tech progress: Router transitioned from testnet to Base mainnet; handles over 1.3 million model calls monthly

peaq ($PEAQ)

• Market cap: ≈ $50M (circulating), ≈ $324M fully diluted
• Funding: Approximately $43M total raised, with a recent $15M strategic round by Borderless & Generative Ventures
• Core business: DePIN-focused L1; integrated native x402 support in Aug 2025
• Tech progress: Facilitates M2M payments for more than 850,000 connected devices; two DePIN dApps migrated to x402 payment flows

GoKiteAI

• Funding: $18M Series A led by General Catalyst & PayPal Ventures
• Core business: "The agent internet base layer"—provides agent identity, programmable permissions, and payment infrastructure
• Token plan: Tokenomics published; TGE scheduled for Q1 2026

Other chain projects—examples include:

Questflow — a multi-agent economy powered by x402

On-chain multi-agent orchestration where agents autonomously coordinate tasks, creating economic value without human input. Central to this is $SANTA—a cluster of 13 autonomous agents owned by Questflow and released via @virtuals_io.

AurraCloud ($AURA) — agent orchestration layer for x402

Develops an orchestration layer for AI agents that can be deployed and managed in minutes, integrating MCP and crypto APIs. With smart wallets, agents autonomously pay for services and execute transactions without human oversight.

mrdn_finance ($MRDN) — x402 payment coordinator (flagship)

A flagship x402 project incubated by UOS, featuring mechanisms such as:

• 1% protocol treasury fee to establish long-term financial stability.
• 2% cashback rewards (gradually decreasing, with a halving schedule) to encourage early adoption.
• $MRDN per-transaction rewards to attract developers and agent creators.
• Multi-chain support: Base, Optimism, Unichain—expanding x402 across superchains.

itsgloria_ai ($GLORIA) — x402 data & API hub

The data and API center for the x402 ecosystem, enabling agents to access and transact real-time data on a pay-per-use, trustless basis—linking the data economy with the agent economy and allowing information monetization for agents.

The inaugural x402 meme — pingobserver

How can everyday individuals get involved early with x402?

x402 remains in its early stages, but it embodies a fusion of payments + machine/AI + on-chain settlement, aligning with future directions. Early adopters like developers, websites, and AI agents will secure first-mover benefits. As chain-level infrastructure, x402 resembles a fundamental technological shift more than a typical speculative token venture.

Capital swiftly detects opportunity—x402 concept plays are emerging in various public markets. On-chain represents a blue ocean: major exchanges and infrastructure providers are competing to establish foundations—

For newcomers without accounts yet, start with research (e.g., this overview): 2026 Latest Top 10 Cryptocurrency Exchange Rankings 🔥【Must Save】, pre-register where applicable, and conduct basic due diligence to position yourself in this emerging opportunity.