Skyfire Launches AI Payment Network with $8.5M Funding, Backed by USDC and Former Ripple Executives

Aug 21, 2024, 12:00 PM

Skyfire, a new payment network designed for AI agents, has launched with $8.5 million in seed funding. The network aims to enable autonomous AI agents to conduct transactions independently, offering a novel approach to payment processing in the AI economy. The funding round was backed by notable investors including Arrington Capital, BHDigitalAssets, Sfermion, Circle Ventures, and Draper VC. Skyfire's platform is positioned to support fully autonomous transactions across AI agents and large language models (LLMs), with USDC being the stablecoin network of choice for these transactions. The initiative, covered by TechCrunch, is led by former Ripple executives, including Amir Sarhangi, and is seen as a significant step towards decentralized automation and machine-to-machine economic activity.