PANews reported on August 21 that according to Decrypt, the AI agent encrypted payment network Skyfire announced the completion of a US$8.5 million seed round of financing. Investors include USDC issuer Circle, Ripple, Gemini, and the venture capital company of Tim Draper, a well-known Silicon Valley billionaire and Bitcoin advocate.
Founded by two former Ripple developers, Skyfire is an open-source payment system that will allow autonomous AI agents to quickly move around the internet and purchase whatever goods they need to complete a designated task — from data storage and creative assets to airline tickets and groceries. All of these transactions will be powered by the stablecoin USDC. Skyfire currently runs on Ethereum extension network Polygon, but the company says it plans to expand to other blockchains soon. Skyfire is currently free to use, but says it may soon charge transaction fees of between 2% and 3%.