[DigitalToday reporter Chi-gyu Hwang (황치규)] The Coinbase-backed agent payments protocol x402 has been transferred to the Linux Foundation.

According to a recent report by The Block, the 402 Foundation will take charge of managing and operating x402 under the Linux Foundation, and Amazon Web Services (AWS), American Express, Ant International, Base, Circle, Google, KakaoPay, Mastercard, Microsoft, Polygon Labs, Shopify, the Solana Foundation and Visa will participate in the governance structure.

Coinbase set up the 402 Foundation with support from Cloudflare and Stripe. Cloudflare and Stripe will continue to participate in the 402 Foundation.

The 402 Foundation said it will operate x402 on neutral principles under Linux Foundation governance. Jim Zemlin, chief executive officer of the Linux Foundation, said the 402 Foundation will carry out development through community governance in an open environment.

The Linux Foundation has supported open-source organisations that maintain independent governance and funding structures, such as the Hyperledger Foundation and the Cloud Native Computing Foundation (CNCF).

x402 is one of the open-source payment standards aimed at the agent economy. Last month, Stripe and Tempo unveiled the Machine Payments Protocol (MPP), and Visa released a command-line payment tool for bots.

Kevin Miller, business lead at Stripe, said it will work with the x402 community so companies can receive large-scale payments from agents.