Coinbase’s x402 Transactions Rise 10,000% in a Month

Coinbase’s x402 protocol, introduced in May, enables AI agents to autonomously transact using stablecoins over the internet. Over the last month, transaction activity has skyrocketed by more than 10,000%, with almost 500,000 transactions recorded from October 14 to 20. The x402 operates by allowing users to make requests, triggering a prompt for payment, which is then automatically verified upon sending a signed stablecoin payment. On a peak day, record transactions reached 239,505, with a transaction volume of $332,000. This surge aligns with venture capital insights predicting that autonomous transactions could total $30 trillion by 2030. The response has also led to the launch of x402-powered tokens, contributing to a rapidly growing ecosystem worth approximately $180 million. Coinbase's development team highlighted Ethereum as an ideal host for implementing x402 due to its capacity for efficient invoices and dispute resolution, leveraging features like atomic payments and programmable policies.

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