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Linux Foundation Forms x402 Foundation with 40 Members as Transaction Volume Declines
The Linux Foundation launched the x402 Foundation on July 14, 2026, to govern the protocol contributed by Coinbase. Forty companies now oversee the standard, including Visa, Mastercard and Ripple. The system processed 75 million transactions worth $24 million in the prior 30 days.
Jul 15, 2:05 AM·1m read2 sources
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The Linux Foundation launched the x402 Foundation on July 14, 2026, to standardize internet-native payments between software agents. CoinDesk reported that the foundation now operates under formal governance with 40 members and that Coinbase has completed its contribution of the protocol.
Premier members include Ripple, Visa, Mastercard, American Express, Stripe, Adyen, Fiserv, Shopify, Google, Amazon Web Services, Cloudflare, Circle, MoonPay, the Solana Foundation and the Stellar Foundation.
The x402 protocol activates the HTTP 402 Payment Required status code to allow clients to pay servers directly with small stablecoin transfers, typically USDC, without accounts or prior relationships. Coinbase deployed the protocol in May 2025. Over the 30 days ending July 14, 2026, x402 processed about 75 million transactions totaling $24 million.
The activity involved roughly 94,000 buyers and 22,000 sellers at an average payment size of 32 cents, or about 29 transactions per second. Google has integrated x402 into its agent payments protocol. Cloudflare ships the protocol in its agent toolkit.
Separate data from DefiLlama showed x402 DEX volume of roughly $572,000 across the 30 days ending July 13, 2026, down from nearly $970,000 on a single day in December 2025.
