Foundation Devices, the Boston-based company behind the Passport Bitcoin hardware wallet, has raised $6.4 million to enter the emerging field of AI authorization infrastructure. This strategic move positions the company at the intersection of cryptocurrency security and artificial intelligence governance, addressing the growing need for regulated operations as AI agents begin to manage financial transactions and digital assets.
Founded in 2020 by Zach Herbert, Foundation Devices earned its reputation through open-source, privacy-first hardware that minimizes third-party reliance. Now, leveraging its expertise in secure key management, the company is developing a policy layer that defines what AI agents can do on behalf of users. This system will enable individuals to set precise permissions—effectively deciding how far their AI assistants can act within financial ecosystems.
The shift comes as AI tools increasingly perform autonomous tasks, from executing crypto trades to managing portfolios. Without robust authorization frameworks, users risk exposing their assets to unintended actions. Foundation’s approach introduces user-defined permission controls, extending the trusted principles of crypto security into the AI domain.
While many startups are building AI trading bots and blockchain-integrated agents, Foundation Devices stands out by focusing on authorization infrastructure rather than agent creation. This niche focus could give it a competitive edge as the market matures and regulatory scrutiny intensifies.
By combining its privacy-driven ethos with next-generation AI governance, Foundation Devices is pioneering a new frontier in digital security—ensuring that as AI gains autonomy, users retain control.
