BlockBeats News, May 14th. The Arbitrum team announced that the x402 Protocol, owned by Coinbase, is now live on the Arbitrum network. This protocol enables developers to allow AI agents to directly use stablecoins for payment APIs, services, and software fees.

The x402 Protocol is named after the unused HTTP 402 "Payment Required" status code, which allows websites, APIs, and AI robots to request and receive instant microtransactions through blockchain and traditional payment channels. The protocol is managed as an open standard by the x402 Foundation under the Linux Foundation and is supported by over 20 institutions and crypto companies, including Cloudflare, Stripe, AWS, Google, Visa, Base, Circle, and the Solana Foundation.