The initiative seeks to simplify digital transactions with a new open Internet standard.
Cloudflare and Coinbase have announced the creation of the x402 Foundation, an independent body that will drive the development of an open Internet standard for digital payments. The foundation aims to make sending and receiving payments online seamless for developers, creators, and businesses — irrespective of geography, currency, or payment method.
At the heart of this initiative lies the long-overlooked HTTP 402 “Payment Required” response code, which has existed for decades but lacked standardization. The x402 Foundation intends to revive it as a global standard to enable micropayments, API monetization, and autonomous transactions for agent-based commerce.
“Coinbase deserves immense credit for starting the work on the x402 protocol and we’re excited to partner with them on our shared vision for a neutral foundation,” said Matthew Prince, co-founder and CEO of Cloudflare. “The Internet’s core protocols have always been driven by independent governance, which is why we’re proud to work with Coinbase to ensure x402 has the same path, given its likelihood to become a core protocol for agentic commerce.”
Echoing the vision, Erik Reppel, creator of x402 and Head of Engineering for Coinbase Developer Platform, said: “Agentic commerce is a once-in-a-generation opportunity to rethink how value moves online. The x402 Foundation will help lay the groundwork to make it happen.”
Once established, the x402 standard is expected to transform Internet-native money by enabling a consistent way to communicate payment requests and responses, making it easier for API providers, content creators, and even autonomous digital agents to transact globally.
Organizations interested in contributing to the standard can explore more at x402.org.
