Coinbase Cedes x402 Payments Protocol to Linux Foundation—Tech Giants Pile In
Everyone figured Coinbase would hoard its x402 payments brainchild. Instead, it's handing reins to the Linux Foundation—backed by Google, Microsoft, and crypto players—betting on open standards to turbocharge fintech rails.
⚡ Key Takeaways
- Coinbase shifts x402 to Linux Foundation for neutral stewardship, drawing Google, Microsoft, Ripple. 𝕏
- x402 standardizes HTTP/402 for smoothly API payments, potentially accelerating crypto-fiat bridges. 𝕏
- Open governance boosts adoption odds, but execution risks loom amid payments market fragmentation. 𝕏
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Originally reported by The Block
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