AI Payment Public Chain Kite AI Receives Strategic Investment from Coinbase Ventures, Joining Forces to Advance the x402 Intelligent Agent Payment for Mass Adoption

On October 27th, the AI Payment Public Chain project Kite AI announced that it has obtained strategic investment from Coinbase Ventures. According to the official information, this financing is a continuation of Kite's recent $33 million financing round, which was led by PayPal Ventures and General Catalyst. The new funds will be utilized to support the development of its proprietary AI smart agent payment infrastructure and to collaborate with Coinbase in order to accelerate the widespread adoption of the x402 protocol. It is reported that Kite has natively integrated Coinbase's x402 smart agent payment standard since its establishment. As one of the earliest Layer 1 blockchains to fully implement x402-compatible payment primitives, Kite enables AI smart agents to directly initiate, receive, and settle payments through standardized intent authorization. This has established Kite's position as a native execution and settlement layer for the x402 protocol and the emerging smart agent economy.