PayPal opens up a $18M investment in Kite, the first agentic AI that accepts automated crypto payments and real-time settlements.
Kite, a crypto-infrastructure and AI infrastructure developer, has just closed an 18M series A round. Kite raised 30 million plus dollars from PayPal Ventures and General Catalyst.
The future internet will run on autonomous agents. They will perform autonomously and are capable of handling complex tasks as fast as machines. This is enabled by the infrastructure provided by Kite to verifiable digital identities and real-time, programmable payments.
Next Level Agentic Web, This paper will explore the next layer of the Agentic Web. Kite develops the trust system underlying the agentic web.
Its product, Kite AIR, enables AI agents to identify themselves and use stablecoins to make transactions safely. This system is low fee, does not charge back, and settles instantly.
Agency Passport and Agent App Store are the two primary pieces of hardware that Kite AIR makes use of. A verifiable, trusted artificial intelligence identity is generated by Passport Agent, together with secure rules of operation.
AI agents are given access to tools, application programming interfaces (APIs), and data services in the commercial sector through the Agent App Store.
It is possible for the AI agents to discover merchants operating on the Shopify or PayPal platform directly.
Chi Zhang, the Chief Executive Officer of Kite, stated today that they are unable to perform machine-speed transactions because their systems are too slow and fragile.
Kite is currently in the process of creating the blockchain infrastructure that will ultimately support the high-frequency, micropayment economics.
AI Agents and Payments in the Real World
A strong connection exists between Kite AIR and the various commerce platforms. PayPal or Shopify merchants have the option of registering in the Kite Agent App Store.
Then they can be seen by the AI shopping agents capable of driving purchases on their own. The purchases are stored on the blockchain in their entirety and are publicly and demonstrably traceable with stablecoins.
This does away with the fraud risks of traditional transactions. Kite has been referred to as the very first specifically developed backbone of the agentic economy by Alan Du, who is affiliated with PayPal Ventures.
Kite is also interested in engaging more finance and data services integrations. Their dream is a future in which machines will buy and sell independently, using smart contracts and programmable money.
Advanced AI Blockchain Tech
Kite AI goes beyond payments. It was the first AI-optimized Layer 1 blockchain to roll out on the Avalanche network. This blockchain is decentralized, fast, and scalable in nature.
It is based on the underlying technology Proof of Attributed Intelligence (PoAI). This special agreement system is also fair to AI information providers, model developers and autonomous agents.
Kite also has a data access engine that is decentralized, customizable AI subnets, and privacy-enabled AI memory.
They give AI creators long-term and secure data ownership and allow them to collaborate effectively.
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