U.S.-listed cloud company Cloudflare announced plans to introduce a U.S. dollar stablecoin for what it calls the “agentic web,” where autonomous AI agents perform tasks like booking flights or ordering groceries.
The company said Thursday that the token, dubbed NET Dollar, will enable instant and secure transactions for software agents, developers and creators. Cloudflare framed the initiative as a shift away from the ad-driven economics that have defined the internet for decades. Matthew Prince, co-founder and CEO of Cloudflare, said the internet’s next business model will be powered by pay-per-use, fractional payments, and microtransactions that shift incentives toward original, creative content that adds value. The firm said it is also contributing to standards such as the Agent Payments Protocol and x402, which aim to make sending and receiving payments online simpler.
With the move, Cloudflare aims to join a roster of fintechs and payments firms that have ventured into the stablecoin trend that is reshaping cross-border payments. These cryptocurrencies, with prices tied to fiat money like the U.S. dollar, offer a cheaper, faster alternative to traditional payment rails using blockchains for settlement. Stripe is building its own blockchain, Tempo, for stablecoin transactions and acquired stablecoin infrastructure provider Bridge for $1.1 billion. Trading firm Keyrock projected in a report that stablecoin transaction volumes could reach $1 trillion by 2030, driven by institutional adoption, foreign exchange settlement and cross-border flows.
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