Cloudflare (NET) announced the intent to create the x402 Foundation, in collaboration with Coinbase (COIN), to further the development of an open Internet standard for digital payments. The x402 Foundation will help to create a new standard to simplify the process of sending and receiving payments on the Internet for website owners, developers, and content creators globally. Soon, creators and developers will have access to an open, flexible standard that will empower them to communicate payment requests and responses –regardless of geography, currency, or payment method.
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