Foundation Devices, the company behind the Passport Bitcoin hardware wallet, has raised $6.4 million to push into a space that barely existed a year ago: authorization infrastructure for AI agents.
The idea is straightforward, even if the execution isn’t. As AI agents move from novelty demos to tools that can actually spend money, book services, and interact with APIs on your behalf, someone needs to build the guardrails. Foundation thinks the company that spent years figuring out how to secure Bitcoin private keys is the right one for the job.
From hardware wallets to AI permissions
Foundation Devices was founded in 2020 by Zach Herbert in Boston. The company built its reputation on the Passport, a Bitcoin-only hardware wallet with an open-source design philosophy and a heavy emphasis on minimizing the trust users place in third parties. It also offers the Envoy companion app, which handles transaction management and wallet configuration.
The core competency here is secure key management. Storing private keys, signing transactions, and making sure no intermediary can tamper with the process. That’s the bread and butter.
