Skyfire raises $9.5m to build AI payment network

Skyfire, a funds platform based by former Ripple builders, raised $9.5 million in a seed funding spherical led by Coinbase Ventures and a16z’s Crypto Startup Accelerator.

The corporate focuses on constructing a fee infrastructure designed for AI brokers, that are software program techniques able to making selections and transacting autonomously, according to an organization launch.

Skyfire’s fee community permits AI brokers to course of transactions with out human intervention, utilizing USDC (USDC) or conventional banking techniques. This innovation caters to the rising AI agent economic system, the place brokers are used throughout numerous industries, akin to monetary providers and on-line retail.

Skyfire permits absolutely autonomous funds by offering brokers with safe pockets entry and verifiable identities.

Skyfire is now built-in with Base, the Ethereum (ETH) layer 2 blockchain incubated at Coinbase, enabling low-cost fee rails for all Agent funds. This integration coincides with an funding into Skyfire by Coinbase Ventures, alongside funding from the a16z Crypto Startup Accelerator. 

This brings Skyfire’s complete funding to $9.5 million.

What are AI brokers? 

For these unfamiliar with AI brokers, these techniques operate like digital staff, performing duties, making selections, and, on this case, paying for providers. Skyfire acts because the infrastructure that permits these brokers to finish transactions, bypassing the necessity for human oversight.

This setup permits seamless transactions at a fraction of the fee, making it enticing to enterprise prospects.