Odaily Odaily reports that Cloudflare (NYSE: NET) shares rose more than 6% on Wednesday, closing at $225.48. According to sources, Coinbase (NASDAQ: COIN) and crypto infrastructure provider Zerohash are competing to become the issuer of Cloudflare's upcoming stablecoin, NET Dollar, which is scheduled to launch later this year.
NET Dollar is a US dollar-pegged token designed to drive seamless transactions within a “proxy network”—the next-generation internet where autonomous AI agents independently browse, negotiate, and settle payments. Cloudflare plans to embed stablecoin functionality directly into its network infrastructure to enable efficient micropayments in AI-driven activities, including content access, data processing, and automated services.
This project builds upon Cloudflare's strategic partnership with Coinbase last year, which led to the creation of the x402 Foundation. The foundation aims to promote an open standard that reinstates the HTTP 402 "Payment Required" status code, enabling websites and developers to natively request and receive instant digital payments within browsers and applications. Zerohash possesses regulatory experience and technical capabilities in compliant stablecoin issuance and liquidity services.
