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AI Can Now Pay: MoonPay Launches PayBox for Agents
31 Jul
Summary
- PayBox lets AI agents transact on the internet without user intervention.
- It integrates directly into AI interfaces using natural language commands.
- Funds are secured using advanced security without full custody for any party.
Global financial technology firm MoonPay has introduced PayBox, a pioneering payment vault designed specifically for artificial intelligence agents. This new platform enables AI assistants to conduct transactions across the open internet without requiring users to leave their active conversations. By integrating with AI interfaces like Claude and ChatGPT via a custom connector, PayBox allows users to issue financial transaction commands in natural language.
Historically, AI tools could execute code but lacked the ability to directly move money. PayBox bridges this gap by integrating into conversational platforms and utilizing x402, an open standard for agent-initiated payments. This allows AI to pay for services across DeFi, travel, and online retail.
Security is paramount, with PayBox employing Multi-Party Computation (MPC) and Secure Enclaves (TEEs) for crypto wallet keys, and processing card credentials through Visa's protocol. Neither the AI agent nor MoonPay holds complete control over transactions. Users retain oversight through customizable permission layers, including an 'Always Ask' model for explicit approval or an 'Autonomous' setting within defined limits.
At its launch, PayBox supports major networks such as Solana, Ethereum, Base, and Arbitrum, with plans for further network and AI platform expansion. The company aims to broaden PayBox's capabilities to include advanced decentralized finance functions like routing swaps and perpetual futures trading.
