Cloudflare plans to launch the USD-backed stablecoin NET Dollar

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

The company aims to create a payment system to serve the emerging "agent networks," where AI agents can perform tasks such as booking flights or ordering groceries on behalf of users. Cloudflare co-founder and CEO Matthew Prince stated: "The next business model of the internet will be driven by pay-as-you-go, 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 programmable operations, allowing AI agents to make instant payments based on preset conditions.