Cloudflare makes surprise move into crypto space

Cloudflare (NYSE: NET) is planning to introduce NET Dollar, a stablecoin pegged to the U.S. dollar, to enable instant, secure transactions in the AI-driven internet, the American tech giant announced on Sep. 25.

The currency will power a new business model for the internet that rewards originality, creativity, and innovation in the age of AI, the statement read.

Cloudflare to launch NET Dollar

Cloudflare is a leading technology company that helps its clients secure websites and networks, register domains, and access wide area networks, among other services. Now, the tech giant is pivoting to finance and plans to launch a stablecoin for fast, secure, and global payments.

A stablecoin is a type of cryptocurrency that tries to keep its value stable, unlike conventionally volatile cryptocurrencies like Bitcoin and Ethereum, by being pegged to a fiat currency like the USD or a commodity like gold.

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Stablecoin for AI-driven internet

The company says NET Dollar will modernize the payment ecosystem for the future internet driven by AI agents:

Easy, fast, secure, and transparent payments at a global scale – across currencies, geographies, and time zones. Instant, automated payments, like paying for the cheapest flight. Payment rewards for creators, developers, etc.Matthew Prince, co-founder and chief executive officer of Cloudflare Inc., during the Fortune Brainstorm AI conference in San Francisco, California, US, on Monday, Dec. 11, 2023. The conference gathers leaders in machine learning and artificial intelligence to assess the industry and examine new business cases for AI.

“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,” Cloudflare co-founder and CEO Matthew Prince said.

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“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,” he added.

The company's stock was trading at $217.98 at press time, up 11.5% in a month.

This story was originally reported by TheStreet on Sep 25, 2025, where it first appeared in the Innovation section. Add TheStreet as a Preferred Source by clicking here.

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