Rebooting the internet: inside the open-source project to let AI programs pay each other

FinanceRebooting the internet: inside the open-source project to let AI programs pay each otherThe newly-convened x402 Foundation is a neutral space where competitors and payment methods can work together to create an open standard for AI agentic commerce.By Ian Allison|Edited by Jamie CrawleyUpdated Jul 16, 2026, 11:31 a.m. Published Jul 16, 2026, 11:22 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowThe x402 protocol is a payments standard for internet-based transacting, to enable payments between AI agents, machine and users via HTTP.Premier members of the 40-strong x402 Foundation include Visa, Mastercard, American Express and Stripe.The search for an x402 Foundation executive director is now underway, and the group has established a technical steering committee.Lessons from the early days of building the web are being brought to bear in establishing an open standard for AI-driven commerce, according to members of the Linux-affiliated x402 Foundation, a payment protocol designed for AI agents.Denelle Dixon, CEO of Stellar Development Foundation, one of the premier members of the x402 Foundation, helped engineer open-source browsers during the first iteration of the internet. She witnessed first hand when walled gardens were erected, and “five companies basically took over content on the web,” leading to the advertising-driven attention economy that exists today.“You don't want to be in a walled garden when you're dealing with money,” Dixon said in an interview.The x402 protocol is a payments enabler for internet-based transacting, developed by cryptocurrency exchange Coinbase and now stewarded by its eponymous foundation. The goal is to enable payments between AI agents, machine and users through the standard internet language Hypertext Transfer Protocol (HTTP) without requiring subscriptions or manual entry of credit card details and the like.The stakes are high because AI ag…

Rebooting the internet: inside the open-source project to let AI programs pay each other

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