Pieverse Secures CMS Funding to Develop x402 Protocol on BNB Chain

Pieverse has received a new pre-TGE investment from CMS Holdings to boost its x402b payment system on BNB Chain. The Web3 startup, which builds tools for secure and verifiable payments, announced that this funding brings its total capital raised to $10 million, encompassing earlier seed and strategic rounds.

Pieverse confirmed the new pre-TGE investment from CMS Holdings via an announcement on X, stating that it will support the expansion of x402b on BNB Chain. The company remarked, "With CMS Holdings’ support, we’re building the on-chain verification layer that powers transparent, compliant, and automated payments—for humans and agents alike."

According to a blog post detailing the investment, the funding will enable Pieverse to develop payment systems that are simple, transparent, and optimized for AI or automated agents within the Web3 ecosystem. Pieverse indicated that CMS Holdings' investment will facilitate the expansion of x402b, which represents the next iteration of its x402 payment protocol.

This updated version is designed to allow users to conduct transactions without incurring gas fees, maintain verifiable on-chain receipts, and record all transaction details immutably on the blockchain. This functionality aims to establish secure and traceable records for invoices and payments across various blockchain networks.

Strengthening On-Chain Verification

Pieverse's on-blockchain timestamping system functions as a Web3 payment verification layer. It provides real-time, verifiable receipts, invoices, and transaction proofs. The system is engineered to allow both humans and AI agents to securely execute transactions while ensuring that audit-ready records are maintained.

Colin Ho, Co-Founder and CEO of Pieverse, highlighted the importance of financial clarity and compliance, stating, "Every payment in Web3 deserves the same clarity and compliance standards as traditional finance."

The company believes that the support from CMS Holdings will advance its infrastructure across three key areas: robust verifiable on-chain records, gasless auditable payments, and AI-driven financial automation. Furthermore, the integration of EIP-3009 and pieUSD is intended to enable frictionless, gasless transactions while upholding compliance standards necessary for enterprise use cases.

Increasing Traction for the x402 Protocol

Since its inception, the x402 protocol has been gaining considerable momentum as a groundbreaking standard for on-chain commerce. The protocol is built upon the long-standing HTTP 402 "Payment Required" status code, enabling x402 to facilitate frictionless micropayments for digital resources such as APIs, webpages, and content. This is achieved without requiring users to register, provide email addresses, or undergo complex authentication processes.

The core principles of the x402 protocol align with the increasing demand for decentralized, real-time transactions. Its adoption is driven by advantages such as zero protocol fees, instant settlement capabilities, and minimal integration requirements, often involving just a single line of code for servers, positioning it as a significant innovation for developers and content creators.

Expanding Web3 Payment Infrastructure

Pieverse also noted that the crypto investment firm CMS Holdings shares Pieverse's view that the next phase of blockchain's growth will stem from real-world, compliant financial activities, rather than solely from speculation. The shared objective of their collaboration is to develop dependable, traceable, and practical Web3 payment solutions.

This funding announcement follows closely on the heels of Pieverse raising $7 million in a strategic round led by Animoca Brands and UOB Ventures, with contributions from investors including Morningstar Ventures, 10K Ventures, and Signum Capital. These successive funding rounds underscore strong investor confidence in the initiative to enhance the transparency and reliability of blockchain payments.

Pieverse's recent investment from CMS Holdings will directly support the development of AI-ready, compliant payment systems on BNB Chain, effectively bridging real-world transactions with Web3 verification mechanisms.

Note: A previous report detailed the exploitation of 402Bridge for $17K due to a private key leak amidst the growing trend of x402.