Cloudflare Joins x402 Consortium Logging 97M Transactions, Plans Dollar Token
Cloudflare and Coinbase have placed the open-source x402 AI payment protocol under the Linux Foundation with support from Stripe, Microsoft, Google and 20 others, logging over 97 million transactions on Base. Cloudflare’s planned dollar-backed token and the GENIUS Act’s full backing requirement intensify competition with Stripe’s Machine Payments Protocol.
1. Cloudflare Backs x402 under Linux Foundation
Cloudflare has partnered with Coinbase to move the x402 AI payment protocol into the Linux Foundation, joining roughly 20 other participants including Stripe, Microsoft, Google and Amazon Web Services. The protocol revives the HTTP 402 status code to enable instant stablecoin micropayments embedded in API calls, and over 97 million transactions have been processed on Coinbase’s Base blockchain to date.
2. Competing Protocols and Token Experimentation
Stripe’s Machine Payments Protocol and Tempo’s $500 million stablecoin-focused blockchain present alternative AI payment rails, each with distinct mechanics for high-frequency small transactions. Cloudflare is also developing its own dollar-backed token to explore traditional rails integration, leveraging regulatory support from the GENIUS Act’s full backing requirement.