Issue #1 Protocol Signal June 7, 2026 · Monday

x402 Real Numbers

The first verified transaction volume figures for x402, a compliance timeline taking shape, and a clear map of how the agent payment stack fits together.

x402 transaction metricsUSDC on Basecompliance timelineagent payment stack

Coinbase released the first comprehensive x402 transaction metrics: volume by network, median payment size, top-paying tool categories, and facilitator latency benchmarks. The data established x402 as an active protocol rather than a speculative standard, with USDC on Base accounting for the majority of settled volume.

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