**CloudFlare Enters the Stablecoin Race with NET Dollar**

Matthew Prince, the CEO of CloudFlare, introduced a new USD-pegged stablecoin called NET Dollar on Thursday. In a post on X, Prince shared a link to the project’s website, which states that the token will be fully backed 1:1 by US dollars. The new stablecoin is expected to be available soon.

### NET Dollar to Power Agentic Commerce

According to the website, NET Dollar is designed to support agentic commerce. The stablecoin aims to automate payments without human intervention, making it ideal for autonomous agents and connected devices. As machine-to-machine commerce expands globally, NET Dollar will provide a reliable medium of exchange to facilitate these high-frequency transactions with stability and precision.

Moreover, NET Dollar promises real-time settlement. Coding rules, triggers, and workflows can be embedded directly into stablecoin payments, making the coin programmable and adaptable for a variety of use cases. This functionality supports everything from simple payments to complex automated flows.

CloudFlare emphasizes that every NET Dollar will be fully collateralized by US dollars. The company is also focusing on global interoperability, ensuring that NET Dollar will work seamlessly across different ecosystems to support frictionless commerce.

### About CloudFlare

CloudFlare is a network infrastructure company that provides services to enhance websites and applications. It acts as a reverse proxy between users and origin servers to improve security, speed, and reliability. The company processes approximately 78 million HTTP requests per second and operates data centers in over 330 cities worldwide.

### The Race for Native Stablecoins

The launch of NET Dollar comes amid increasing competition in the stablecoin market. Both crypto projects and traditional finance companies are rushing to issue native stablecoins pegged to the US dollar.

For example, Bank of America (BoA) has confirmed its intention to launch a USD-pegged stablecoin. Hyperliquid is also planning to issue its own dollar-backed token. Additionally, Cryptopolitan recently reported that Tether is developing a stablecoin targeted specifically at the US market, which will carry the ticker USAT.

As the demand for reliable, programmable, and interoperable stablecoins continues to grow, CloudFlare’s entry with NET Dollar adds another significant player to the evolving landscape of digital currencies.
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