According to Foresight News, Decrypt reported that Skyfire, an AI agent encrypted payment network founded by two former Ripple executives, has completed a $8.5 million seed round of financing. Circle, Ripple, Gemini, and the venture capital company of Tim Draper, a well-known Silicon Valley billionaire and Bitcoin advocate, participated in the investment.

Skyfire has developed an open source payment system that allows autonomous AI agents to conduct various transactions on the Internet, including purchasing data storage, creative assets, air tickets, and daily necessities. Its payment network is based on the USDC stablecoin and is currently deployed on the Polygon network. It plans to expand to other blockchains in the future.