Cloudflare, the cloud connectivity and security provider, announced the launch of its own native stablecoin today, dubbed NET Dollar.
NET Dollar is a U.S. dollar-backed stablecoin designed for the future of the agentic web, enabling secure and instant transactions between AI agents. Cloudflare aims to make NET Dollar the trusted medium of exchange for both personal and business agents.
The company is the latest to launch its own stablecoin, joining other Web2 giants that have entered the space, such as PayPal and Stripe, which are adopting or building their own stablecoin infrastructure.
“For decades, the business model of the Internet ran on ad platforms and bank transfers. The Internet’s next business model will be powered by pay-per-use, fractional payments, and microtransactions—tools that shift incentives toward original, creative content that actually adds value,” said Matthew Prince, the co-founder and CEO of Cloudflare.
“By using our global network, we are going to help modernize the financial rails needed to move money at the speed of the Internet, helping to create a more open and valuable Internet for everyone,” Prince added.
Stablecoins have been one of the hottest narratives in 2025, with the total stablecoin market growing by nearly $90 billion since the start of the year. Tether remains the dominant force in the stablecoin sector, accounting for more than 58% of the total market.
Meanwhile, there is an ongoing race to become the default “stablecoin chain” with Stripe launching its Layer 1 blockchain with Paradigm called Tempo, Circle launching its Arc stablechain, and Tether’s sister company, Bitfinex, launching Plasma.
