- Kite raised $18 million to advance its AI-powered platform for stablecoin transactions.
- The latest funding round increases the company’s total funding to $33 million.
- Kite supports AI “agents” that can make microtransactions and negotiate on behalf of users.
- New product, Kite AIR, offers secure digital identities and programmable payments for autonomous agents.
- Integrations with Shopify and Paypal enable merchants to accept stablecoin payments from AI agents.
Kite, an Artificial Intelligence company based in San Francisco, secured $18 million in Series A funding on September 2. The company aims to develop its platform that allows AI agents to conduct transactions using stablecoins, which are cryptocurrencies designed to hold a stable value.
General Catalyst and PayPal Ventures led the investment, bringing Kite’s total capital raised to $33 million, according to an announcement from the company. The funding will help expand the company’s infrastructure for the “agentic web,” a system where autonomous AI agents perform real-time microtransactions and negotiate services.
Previously known as Zettablock, Kite has launched a new product called Kite AIR (Agent Identity Resolution). This tool gives AI agents verified digital identities, enforces policy rules, and enables programmable payment functions. The company says these features are designed to let autonomous agents interact at machine speed.
Through recent integrations with Shopify and PayPal, any merchant can be discoverable by AI-powered shopping bots. When purchases happen, settlements use stablecoins on blockchain networks, which may reduce typical payment processing fees. Stablecoins make it possible to carry out instant transactions and low-cost billing between agents, including smaller-scale subscriptions.
Kite reported it intends to broaden its connections to other platforms in commerce, finance, and data. The company aims to become the main provider of stablecoin payment systems for autonomous AI agents.
For related news on stablecoin lending, see USD.AI Raises $13M to Expand GPU-Backed Stablecoin Lending.
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