Another giant launches a stablecoin: A quick look at Cloudflare's stablecoin, the NET Dollar.

Written by: 0xjs@黄金财经

Another internet giant is about to issue a stablecoin.

On September 25, US network infrastructure giant Cloudflare announced plans to launch the US dollar stablecoin NET Dollar (NET is Cloudflare's listing code on the New York Stock Exchange).

Who is Cloudflare?

According to public information, Cloudflare is an American multinational technology company that provides content delivery networks (CDNs), network security, DNS services, and other basic internet services. Through its global edge network, it provides accelerated access, improved performance, and enhanced security for millions of websites and applications to resist cyberattacks and help customers build a safer internet.

Almost every internet service is inseparable from Cloudflare. For example, when you log in to a website, the service that requires you to verify that you are a real person before continuing is mostly provided by Cloudflare.

According to Cloudflare, NET Dollar is a new dollar-backed stablecoin that will provide instant and secure transaction support for the agentic web. NET Dollar will help the internet build a new business model that rewards originality, sustains creativity, and empowers innovation in an AI-driven world.

NET Dollar targets AI agents

Cloudflare said that AI is fundamentally changing the way humans interact with the internet. Instead of personally controlling every interaction, humans are beginning to delegate tasks to autonomous AI agents, such as booking flights, ordering groceries, and managing calendars. For this to happen, the underlying financial system also needs to evolve. The AI-driven internet requires instant, global, and secure money so AI agents, developers, and creators can transact instantly, automatically, and reliably.

Cloudflare has been a global company since its inception, helping customers around the world improve performance, secure websites and networks, and develop and deploy applications. Today, Cloudflare is bringing this to life through transactions, providing a fast, secure, and globally accessible internet-native payment system. Stablecoins are one of many tools that, alongside the existing financial system, can help the AI-driven internet thrive, bringing speed, trust, and interoperability.

“For decades, the internet’s business model has relied primarily on advertising platforms and bank transfers. The internet’s next business model will be driven by pay-per-use, fractional payments, and microtransactions – tools that shift incentives toward truly valuable, original, creative content. By leveraging our global network, we will help modernize financial channels, enabling the transfer of money at internet speeds, creating a more open and valuable internet for everyone,” said Matthew Prince, co-founder and CEO of Cloudflare.

NET Dollar Key Features and Use Cases

NET Dollar will have five key features:

Intelligent Commerce:NET Dollar is purpose-built for the rise of agents and machines, enabling seamless, automated transactions without human intervention.

Real-Time Settlement:The rise of autonomous agents and connected devices is creating a new economic paradigm. These systems require a reliable medium of exchange that can handle high-frequency, automated transactions without human intervention. Programmable: Rules, triggers, and workflows can be embedded directly into payments, making them smarter and more adaptable. Global and Interoperable: The NET Dollar will operate across networks and ecosystems, enabling frictionless global trade. 1:1 USD Backing: Each token will be fully collateralized by USD, ensuring transparency, reliability, and price stability. Use Cases for NET Dollar-Enabling Agent Payments: Making Payments Easy Anywhere in the World: Agents require a system that is not only fast and secure, but also trustworthy, transparently documented, and reliably executes payments globally—across currencies, geographies, and time zones. Instant, Automated Transactions: Individual agents will be able to perform instant, programmatic actions, such as paying for the cheapest flight or ordering an item as soon as it becomes available. Enterprise agents can be instructed to pay suppliers upon delivery confirmation.

Opening new business models for the Internet: The NET Dollar will enable creators to be rewarded for unique and original content, developers to easily monetize APIs and applications, and AI companies to give back to the ecosystem that supports them by fairly compensating content sources.

Cloudflare also stated that it will contribute to open standards such as the Intelligent Payment Protocol and x402 to simplify the process of sending and receiving payments on the Internet.