Payment Required. Every time.
OK. Paid on the agent's line.
This is the response every agent on the internet gets before it can do anything. Pay now, from a wallet somebody already filled, or get nothing. There's no version of it that says "put it on the line." Flip the switch.
Same request, same 402. This time, the agent's issuer answers it on credit, and we fund the draw. The agent gets to work and earn without worry, and we get repaid when the agent repays. We're looking to fund the people building this.
- 75M+
- x402 payments, last 30 days
- $24M+
- settled, last 30 days
- ~$0.30
- average payment
- ~all
- prepaid · x402.org, Sep 2026
The view from here
Seventy-five million payments a month. Almost all of them prepaid.
Agents already buy inference, search, data and compute thousands of times a day without a person approving each call. x402 made that a one-line HTTP exchange. What hasn't changed is cash: the wallet has to have the cash in hand before the 402 gets answered. Nearly every agent is prepaid.
That's fine while agents are small, but it breaks the moment an agent earns later than it spends, which is what every real business does. Someone has to extend credit into that gap, underwritten by what the agent actually does.
We see a few teams doing exactly that. They set limits per agent, watch repayment in real time, and know their book better than any bank could. The next step is to source capital, so the agents they underwrite always have a credit line handy and aren't limited by the issuer's own capital.
Design partners
Three issuers. Then 402 turns into 200 for everyone.
We're looking for three design partners who are underwriting agents today. Not aiming to give a term sheet. We want to provide a working facility, shaped together on your live book. You bring agents that borrow and repay with a risk engine you trust. We bring the capital and the settlement contracts, fund what your agents draw, and grow the line as your book grows. We'll learn this alongside you.
Why work with us? Thomas co-founded Credit Coop, where onchain credit infrastructure helped stablecoin fintechs finance growth against their future cash flows: $2.5B+ processed, zero defaults. Srijith spent the years before BitRepo selling cryptographic verification to lenders so they could underwrite better. We met at BaseCamp in Vermont talking about proof-based credit for real businesses. Agents are the next borrower.