Cloudflare plans to launch a USD-backed stablecoin called NET Dollar

ChainCatcher news, according to Investing.com, cloud service provider Cloudflare (NYSE:NET) announced plans to launch a USD-backed stablecoin called NET Dollar, specifically designed to support instant secure transactions in AI-driven online activities.

The company aims to create a payment system that serves the emerging "agent network," where AI agents can perform tasks on behalf of users, such as booking flights or ordering groceries. Cloudflare co-founder and CEO Matthew Prince stated, "The next business model of the internet will be driven by pay-per-use, fractional payments, and microtransactions."

NET Dollar will help modernize payment infrastructure by enabling transactions across currencies, geographies, and time zones. The stablecoin is designed for programmatic operations, allowing AI agents to make instant payments based on predefined conditions.