Tech Giant Cloudflare to Launch NET Dollar Stablecoin for 'AI-Driven Internet'

Core Insights - Cloudflare is launching a U.S. dollar-backed stablecoin called the NET Dollar to enhance AI-driven finance on the internet [1] - The NET Dollar aims to facilitate near-instant global transactions and support creators, monetization of APIs, and AI agent actions [2] - The launch aligns with a growing focus on AI agent payment infrastructure, as evidenced by Cloudflare's partnership with Coinbase to establish the x402 Foundation for digital payments [3] Industry Context - The stablecoin market has seen significant growth, increasing by over $122 billion in the past year, with a total market cap exceeding $295 million [4] - Regulatory clarity from the passing of the GENIUS Act is expected to lead to an influx of stablecoins, with major financial institutions like Citigroup and Bank of America potentially entering the market [5] - Details regarding the launch timetable for the NET Dollar are pending, and it remains unclear which blockchain will host the stablecoin [6]