Mentioned:
One of the largest players in global cloud infrastructure is gearing up to launch their very own stablecoin. But, why?
What’s happening:
- Cloudflare (NYSE: NET) has publicly stated they are planning to launch a stablecoin known as NET Dollar
Why it matters:
- This is the first time ever that Cloudflare has ventured into launching their own stablecoin
Going deeper:
- NET Dollar will be backed and collateralized by U.S. dollar reserves to be complaint with the GENIUS Act and is aiming to support global transactions
- Cloudflare has also publicly stated they will focus on integrating NET Dollar into automated internet payments and transactions being made by AI agents
The intrigue:
- The passing of the GENIUS Act into federal law in America has sparked a flurry of new moves from stablecoin issuers, including stablecoin giant Tether just recently announcing plans to launch a new stablecoin known as USAT that is specifically focused on payments within the United States
