AI Payments Startup Kite Debuts Token With $263M Trading Volume in First Two Hours

AI-powered payments blockchain Kite launched its native token on Monday, seeing significant trading activity, particularly on South Korean exchanges Upbit and Bithumb. The token debuted with a $159 million market capitalization and an $883 million fully diluted valuation (FDV) shortly after trading began. Total trading volume reached $263 million in the first two hours, with Binance, Upbit, and Bithumb each contributing substantial amounts. This launch follows Kite's $18 million Series A funding round in September, which brought its total funding to $33 million, aimed at developing its base layer for AI-driven payments. The token is central to Kite's "agentic economy," facilitating machine-to-machine payments, staking, and governance, allowing autonomous AI agents to transact and access resources. The token supply is capped at 10 billion, with allocations for the community, investors, and the team.

(Source：CoinDesk)