Cloud infrastructure firm Cloudflare has revealed its intention to enter the digital assets sector with the introduction of a US dollar-pegged stablecoin.
According to an announcement made on Thursday, the company is developing the NET dollar, a stablecoin aimed at facilitating instantaneous transactions executed by AI agents—autonomous software capable of performing tasks like booking travel, ordering products, or managing schedules.
“Personal agents will take rapid, programmatic actions such as securing the most affordable flight, or ordering a product as soon as it becomes available,” Cloudflare stated regarding its stablecoin vision.
This initiative underscores the growing interest of tech companies in the crypto space. Earlier this month, Google unveiled an open-source AI payment protocol featuring stablecoin support, developed in partnership with Coinbase.
Cloudflare indicated that the NET Dollar will be entirely backed by US dollars and engineered for global compatibility, real-time settlements, and programmable transactions between AI agents and various online services.
The company envisions a stablecoin linked to its infrastructure services as a catalyst for new business models—rewarding creators for original content, enabling developers to monetize their applications, and allowing AI companies to pay content providers directly.
Matthew Prince, co-founder and CEO of Cloudflare, stated:
“For decades, the internet’s business model relied on advertising platforms and bank transfers. The future model will be driven by pay-per-use, fractional payments, and microtransactions […].
Galaxy Digital CEO Mike Novogratz claimed this month that AI agents are set to become the largest consumers of stablecoins, forecasting a future where they conduct everyday transactions like grocery shopping.
Founded in 2010, Cloudflare’s network spans cities in 120 countries, offering content delivery, domain name system management, distributed denial-of-service protection, and development tools for application creation and deployment.
The launch timeline for the NET Dollar remains undisclosed, though Cloudflare’s website states it “will be available soon.”
Cointelegraph reached out to Cloudflare for comments but did not receive a response by the time of publication.
Related: Stablecoins vs. credit cards: The coming $100B US payments battle
NET Dollar to join a competitive stablecoin marketplace
With sharper stablecoin regulations being enacted in Europe and the United States in 2025, adoption of stablecoins is on the rise. Although Tether’s USDt (USDT) and Circle’s (USDC) maintain dominance with market caps of $173 billion and $73.7 billion, respectively, new competitors are surfacing globally.
On September 18, the South Korean digital asset infrastructure firm BDACS announced KRW1, a stablecoin pegged to the South Korean won.
Fintech company AnchorX reportedly announced in September that it has issued AxCNH, the first regulated stablecoin linked to the offshore Chinese yuan, aimed at facilitating cross-border payments tied to the nations involved in China’s Belt and Road Initiative.
This Wednesday, the decentralized derivatives exchange Hyperliquid launched a US dollar-pegged stablecoin named USDH.
Tether, issuer of the world’s largest stablecoin USDt, also unveiled a new token this month. On September 11, it presented USAT, a dollar-pegged stablecoin aimed at the US market designed to align with the newly established Genius Act.
The overall stablecoin market cap is nearing $300 billion, according to data from DefiLlama.
Magazine: Stablecoins in Japan and China, India considers crypto tax modifications: Asia Express
