Coinbase payment protocol x402, trading volume surges 10,000% in one month…related coins also rally

Coinbase's payment protocol for virtual assets (cryptocurrencies), 'x402', appears to be receiving wide adoption among investors.

According to crypto outlet Cointelegraph on the 26th (Korean time), trading activity using Coinbase's x402 from the 14th to the 20th recorded 500,000 transactions. This is a 10,780% increase compared to one month earlier.

x402 is a system that allows artificial intelligence (AI) agents to autonomously execute transactions on the internet using stablecoins (virtual assets whose value is pegged to fiat currency), and x402 launched last May. It uses the existing Hypertext Transfer Protocol (HTTP 402) to enable direct payments on websites or apps with AI- and human-signed stablecoins, and x402 automatically verifies them.

x402-related tokens have also recently attracted much attention. According to CoinGecko, most virtual assets in the x402 category recorded sharp increases compared with the previous week. Representative examples include Bankalcoin (+44.4%), Santa by Virtual (+353.1%), Daydreams (+152.5%).