Visa, Mastercard and Ripple join Coinbase's x402 protocol for AI agent payments

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Forty companies, including Visa, Mastercard, and Ripple, now govern x402, a payments protocol originally built by Coinbase. The protocol is designed to facilitate machine-to-machine and AI agent payments over the internet. Last month, x402 processed approximately 75 million payments, settling around $24 million in total. The average transaction cost works out to roughly 32 cents per payment. Coinbase developed the protocol before transferring its governance to the broader industry consortium.

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