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The Linux Foundation, a non-profit focused on open-technology projects, said it launched the x402 Foundation to be the home of a new universal standard for AI-powered shopping payments, called x402 protocol. Shopify is among many big names that have expressed “initial intent and support” for the x402 Foundation, including Amazon Web Services, Coinbase, Stripe and Microsoft. (The Logic)
Talking point: The new foundation expects to have a governing board in place and officially start operating in the near future, according to its website. Shopify’s vice- president of product Rohit Mishra said in a statement that the firm’s infrastructure evolves as new technology develops and it’s “ensuring every merchant has access to the tools shaping the future of agentic commerce.” The company has been heavily focused on growing its agentic commerce offerings for merchants. It opened the capabilities up to millions of its clients last week, and it expects the new sales channel to boost its bottom line, though experts say that may be farther in the future.
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