Visa, Mastercard and Ripple back x402 as agent payments average 32 cents
CoinDesk·
60-second summary
Visa, Mastercard, and Ripple are backing x402, a protocol initially built by Coinbase, now governed by forty companies. The protocol settled approximately $24 million in payments last month, averaging 32 cents per transaction across 75 million transactions, demonstrating its potential for cross-border payments. This development bolsters x402's credibility and scalability in the global payments market.
Forty companies now govern x402, the protocol Coinbase built and handed away. It settled about $24 million last month across 75 million payments.