Block Joins x402 Foundation, Brings Bitcoin Lightning Payments

Block, the payment company founded by Jack Dorsey, has joined the x402 Foundation, an organization that develops and operates the open standard for internet payments called x402. This move allows Block to contribute its expertise in payment processing to the development of x402.

x402 is a protocol that enables payments between web services using HTTP, the same underlying technology that powers websites like Google and Facebook. The protocol was developed by Coinbase and is designed to work with any blockchain or payment method, not just those used by Block.

The x402 Foundation has also announced the introduction of Bitcoin Lightning payments into its platform. This will allow users to make fast and low-cost transactions using the Lightning Network, a second-layer scaling solution built on top of the Bitcoin network.