X Pay gets $1 million for a payment gateway for AI agents

X Pay is a company that lets AI agents make payments for APIs, which are tools that let one system use a different system. It got $1 million from nine investors. A seller sets a price in its gateway, the agent sends a signed payment, and the seller sends its data back in one step. The company says that this works with x402, an open standard.

How it works

The payments settle in USDC, a digital dollar. The wallet of an agent has controls that apply before the agent signs a payment:

• a maximum for each use of an API
• a budget for a set period
• approved destinations
• a level above which a human must give approval

The numbers

The only number is a count from the company: more than 50,000 payments since the start in September 2026. It gets a flat 1% of the value of the payments. It holds no funds of customers. It gave no total value of payments.

What is not known

Johnny Sluijmer, the CEO, says that X Pay did not make x402. Coinbase gave x402 to the Linux Foundation. The new money is for a security check, work for BNB Chain and Solana, an API marketplace and EU compliance. The security check is not done at this time.

Insight: The standard is open, but the payment step has a fee

Coinbase says that AWS and Cloudflare let publishers set a price for agents with x402. On the XRP Ledger, 168 merchants used it. X Pay adds a 1% fee on top. It reads as a toll gate. The standard is open, but the company that does the payment step gets a part of each use. Monitor if other blockchains give the same gateway for less.