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 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,…
