The encrypted payment network Skyfire has completed a $8.5 million seed round of financing, with participation from Circle and others

2024-08-21 19:09:27

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ChainCatcher news, according to Decrypt, the crypto payment network Skyfire has completed a $8.5 million seed round funding, with investments from Circle, Ripple, Gemini, and others.

The company was founded by two former Ripple developers. Skyfire is an open-source payment system that will allow autonomous AI agents to quickly move across the internet, purchasing any goods needed to complete specified tasks—from data storage and creative assets to airline tickets and groceries. All these transactions will be supported by the stablecoin USDC.

Skyfire is currently operating on the Ethereum scaling network Polygon, but the company has stated plans to expand to other blockchains soon. Skyfire is currently free to use, but it has indicated that it may soon charge transaction fees, which will range from 2% to 3%.

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