Cloudflare and Coinbase Will Launch x402 Foundation

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9:00 AM on Tuesday, September 23

The Associated Press

SAN FRANCISCO--(BUSINESS WIRE)--Sep 23, 2025--

Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced the intent to create the x402 Foundation, in collaboration with Coinbase, 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.

The Internet is in need of a simple way for developers to monetize APIs, model context protocols, agents, and more – the new technologies that will define the Internet in the same way apps and mobile did in the previous decade. While the 402 "Payment Required" HTTP response has existed for decades, a lack of standardization has prevented its widespread adoption. Traditional payment systems are complex, slow, and bound by geography and currency, and have hindered the adoption of micropayments. A standardized protocol for Internet-native payments will make it easier for parties to send and receive payments without geographic, currency, or formatting differences.

“Coinbase deserves immense credit for starting the work on the x402 protocol and we're excited to partner with them on our shared vision for a neutral foundation,” said Matthew Prince, co-founder and CEO of Cloudflare. “The Internet’s core protocols have always been driven by independent governance, which is why we’re proud to work with Coinbase to ensure x402 has the same path, given its likelihood to become a core protocol for agentic commerce.”

“Coinbase has been exploring Internet payment standards since 2015, and the technology is finally here,” said Erik Reppel, Head of Engineering for Coinbase Developer Platform. “Agentic commerce is a once-in-a-generation opportunity to rethink how value moves online. The x402 Foundation will help lay the groundwork to make it happen.”

The x402 Foundation aims to establish a consistent, open standard for “Internet-native money.” The goal is to provide a standardized way to communicate payment requests and responses, making it easier for parties to send and receive payments regardless of their location, the currency used, or the payment method (which could include credit cards, crypto, or other methods). A standardized format will enable anyone who wants to monetize something on Internet – including developers charging for API access, creators charging for access to content, or an agent paying for something autonomously – to easily do so. Standardization means that anyone who receives a 402 “payment required” response will be able to easily interpret the request.

Organizations interested in joining can reach out here. To learn more, please check out the resources below:

About Cloudflare

Cloudflare, Inc. (NYSE: NET) is the leading connectivity cloud company on a mission to help build a better Internet. It empowers organizations to make their employees, applications and networks faster and more secure everywhere, while reducing complexity and cost. Cloudflare’s connectivity cloud delivers the most full-featured, unified platform of cloud-native products and developer tools, so any organization can gain the control they need to work, develop, and accelerate their business.

Powered by one of the world’s largest and most interconnected networks, Cloudflare blocks billions of threats online for its customers every day. It is trusted by millions of organizations – from the largest brands to entrepreneurs and small businesses to nonprofits, humanitarian groups, and governments across the globe.

Learn more about Cloudflare’s connectivity cloud at cloudflare.com/connectivity-cloud. Learn more about the latest Internet trends and insights at https://radar.cloudflare.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “explore,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these words, or other similar terms or expressions that concern Cloudflare’s expectations, strategy, plans, or intentions. However, not all forward-looking statements contain these identifying words. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding Cloudflare’s plans and objectives for the x402 Foundation, benefits to Cloudflare’s customers from the establishment of the x402 Foundation, the capabilities and effectiveness of Cloudflare’s products and technology, Cloudflare’s global network, Cloudflare’s technological development, future operations, growth, initiatives, or strategies, and comments made by Cloudflare’s CEO and others. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Cloudflare’s filings with the Securities and Exchange Commission (SEC), including Cloudflare’s Quarterly Report on Form 10-Q filed on July 31, 2025, as well as other filings that Cloudflare may make from time to time with the SEC.

The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Cloudflare undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Cloudflare may not actually achieve the plans, intentions, or expectations disclosed in Cloudflare’s forward-looking statements, and you should not place undue reliance on Cloudflare’s forward-looking statements.

© 2025 Cloudflare, Inc. All rights reserved. Cloudflare, the Cloudflare logo, and other Cloudflare marks are trademarks and/or registered trademarks of Cloudflare, Inc. in the U.S. and other jurisdictions. All other marks and names referenced herein may be trademarks of their respective owners.

View source version on businesswire.com:https://www.businesswire.com/news/home/20250923730445/en/

CONTACT: Cloudflare, Inc.

Daniella Vallurupalli

Vice President, Head of Global Communications

[email protected]

KEYWORD: SOUTHEAST ASIA SINGAPORE NORTH AMERICA ASIA PACIFIC EUROPE UNITED STATES IRELAND UNITED KINGDOM CALIFORNIA

INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY PROFESSIONAL SERVICES PAYMENTS BLOCKCHAIN DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SECURITY SOFTWARE CRYPTOCURRENCY NETWORKS INTERNET

SOURCE: Cloudflare, Inc.

PUB: 09/23/2025 09:00 AM/DISC: 09/23/2025 08:59 AM

http://www.businesswire.com/news/home/20250923730445/en