Kite Secures $18 Million to Enhance Stablecoin Transactions for AI Agents
EMB: Sept. 2, 12:30 UTC
Kite, an artificial intelligence company, raised $18 million to enhance its platform for autonomous agents using stablecoins. This funding round, co-led by General Catalyst and PayPal Ventures, increases Kite's total funding to $33 million.
Key points include:
- Kite, formerly Zettablock, is developing infrastructure for the “agentic web” where AI agents perform microtransactions.
- The newly launched Kite AIR provides agents with verifiable identities and programmable payment rails.
- Funds from the Series A round will enable faster interactions for agents.
- Integrations with Shopify and PayPal allow merchants to be accessible to AI shopping agents.
- Stablecoins facilitate low-fee, on-chain transactions, supporting agent-to-agent billing and microsubscriptions.
- Kite aims to expand its integrations across commerce, finance, and data platforms, positioning itself as a key payment layer for autonomous agents.