Kite, an Ethereum-Compatible Blockchain for AI Agents, Raises $18M from PayPal, General Catalyst

Kite AI raised $18M in a Series A round led by PayPal Ventures and General Catalyst to build a "blockchain PayPal" for machines. The network features an "Agent Passport" system for cryptographic identity and is specifically designed to handle autonomous, millisecond-level stablecoin settlements for the agentic economy.