Cloud Infrastructure Company CloudFlare has announced plans to move into the digital asset market with the launch of US dollar-backed Stablecoin.
The company is working on Net Dollar, according to a announcement Thursday. It is intended to support instant transactions triggered by AI agents. This is an autonomous software program that allows you to perform tasks such as travel, ordering, ordering products, and managing schedules.
“Individual agents can take immediate and programmatic actions, such as paying for the cheapest flights or ordering items at the moment of sale,” CloudFlare said of Stablecoin’s vision.
The move highlights that tech companies are increasingly testing crypto waters. Earlier this month, Google introduced the open source AI Payments protocol with built-in Stablecoin support, developed in collaboration with Coinbase.
CloudFlare said that net dollars are fully supported in US dollars and are designed for global interoperability, real-time payments, and programmable transactions between AI agents and other online services.
The company considers Stablecoin, which is linked to infrastructure services, as the driver of its new business model. This rewards the creator with the original content, allowing developers to monetize their applications, and allows AI companies to directly compensate content providers.
“We’re committed to providing a range of services to our customers,” said Matthew Prince, Co-Founder and CEO of CloudFlare.
“For decades, the Internet business model has been implemented on advertising platforms and bank transfers. The next business model for the Internet is driven by pay-per use, fractional payments and microtransactions. […].
Galaxy Digital CEO Mike Novogratz claimed this month that AI agents will soon become Stablecoins’ biggest user, predicting the future of handling everyday transactions, such as buying groceries.
Founded in 2010, CloudFlare’s network covers cities in 120 countries and provides developer tools for content delivery, domain name system management, distributed denial of service protection, and application building and deployment.
The timeline for Net Dollar’s launch has not been revealed, but the CloudFlare website states that it will be “available soon.”
Cointelegraph reached out to CloudFlare for comment, but did not receive a reply at the time of publication.
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Net Dollars to enter a busy stub coin race
The adoption of stubcoin is increasing as more accurate stubcoin regulations will pass in Europe and the US in 2025. Tether’s USDT (USDT) and Circle (USDC) continue to dominate by market capitalization at $173 billion and $73.7 billion, respectively, but other players around the world are emerging.
On September 18th, BDACS, the Korean digital asset infrastructure company, announced KRW1, a stable that is pinned to the South Korean winner.
In September, fintech company Anchorx said it issued AXCNH, the first regulated stub coin linked to offshore Chinese yuan. Stablecoin aims to support cross-border payments with countries involved in China’s belt and road initiatives.
On Wednesday, the decentralized derivative exchange high lipid launched a stablecoin fixed to the US dollar, known as USDH.
Tether, the publisher of USDT, the world’s largest Stablecoin, also introduced a new token this month. On September 11, USAT announced it was a dollar-backed stubcoin for the US market, designed to comply with the recently enacted Genius Act.
According to data from Defillama, Stablecoin’s current market capitalization is approaching $300 billion.
magazine: Japan and China Stubcoin, India changes crypto tax: Asia Express