EMB: Sept. 2, 12:30 UTC
Synthetic intelligence (AI) firm Kite raised $18 million to develop its platform for enabling autonomous brokers to transact with stablecoins.
The spherical, co-led by Common Catalyst and PayPal Ventures, brings the San Francisco-based startup’s cumulative funding to $33 million, in keeping with an emailed announcement on Tuesday.
Previously generally known as Zettablock, Kite is constructing infrastructure for what it calls the “agentic net,” the place AI brokers conduct microtransactions and negotiate providers. Its newly launched Kite AIR (Agent Identification Decision) supplies brokers with verifiable identities, coverage guardrails and programmable cost rails.
The corporate plans to make use of the cash from the Sequence A spherical to present brokers the instruments to work together at machine velocity.
By means of integrations with Shopify and PayPal, any service provider can decide to turn out to be discoverable by AI purchasing brokers. Purchases are settled on-chain utilizing stablecoins to take away the excessive transaction charges that may burden conventional funds.
Stablecoins may kind a important part of unlocking new financial fashions with AI, by way of permitting split-second settlements and low charges, thereby enabling agent-to-agent billing and microsubscriptions.
Kite stated it plans to develop integrations throughout commerce, finance and knowledge platforms, whereas positioning itself because the default stablecoin cost layer for autonomous brokers.
Learn Extra: USD.AI Raises $13M to Broaden GPU-Backed Stablecoin Lending
