Cloudflare plans to launch stablecoin called NET Dollar as market is poised to expand
Quick Take Cloudflare CEO Matthew Prince said his company plans to launch the NET Dollar stablecoin, which will be fully collateralized by the U.S. dollar. Citi analysts recently estimated the stablecoin market could hit $1.9 trillion by 2030, with a bull case of $4 trillion.
Cloudflare plans to launch the NET Dollar stablecoin, which will be fully collateralized by the U.S. dollar, CEO Matthew Prince said in a post to X on Thursday.
No exact date of launch was given, but the company said the stablecoin will be available soon.
Cloudflare's announcement comes as major players from the crypto and the traditional financial sector eye launching their own stablecoins. On Thursday, Citi analysts raised their expectations for where the stablecoin market will be in 2030.
"Reflecting rapid YTD growth and new project announcements, we revise our 2030 base case estimate for stablecoin issuance to $1.9 trillion (previously $1.6 trillion) and bull case to $4.0 trillion (previously $3.7 trillion)," the analysts said.
Notably, Bank of America has said it intends to launch its own stablecoin. It appears Hyperliquid is also keen to launch a USD-pegged token. Tether plans to launch a stablecoin specifically for the U.S. market.
"Built for the rise of agents and machines, NET Dollar will enable seamless, automated transactions without human intervention," Cloudflare said in a post . "NET Dollar will work across networks and ecosystems, enabling frictionless, global commerce."
Cloudflare is a global network that acts as a reverse proxy between website visitors and origin servers, optimizing performance, improving security, and reliability for millions of websites, applications, and services. It powers an average of 78 million HTTP requests per second and operates data centers in over 330 cities worldwide.
Cloudflare's stock (ticker NET) was down less than 1% in midday trading. The company has a market capitalization of around $76 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Update: Crypto Faces $3 Trillion Milestone—Balancing Innovative Structures and Regulatory Oversight
- Crypto market rebounds above $3 trillion as Bitcoin Munari's structured presale allocates 53% of 21M tokens via 10 price rounds, prioritizing transparent distribution. - UK expands CARF to track domestic crypto transactions from 2026 and proposes "no gain, no loss" tax framework for DeFi, aligning with OECD anti-evasion guidelines. - Unverified $15B Bitcoin breach claims spark market jitters, prompting BI DeFi to enhance security while GeeFi's GEE Token presale reaches 80% completion with 55% APR staking
Louvre Raises Fees by 45%: Global Visitor Charges Drive Security Upgrades and Modernization Efforts
- The Louvre will raise non-EEA visitor tickets 45% from January 2026 to fund infrastructure upgrades and address security flaws exposed by a recent heist. - The hike targets U.S., U.K., and Chinese tourists, increasing fees to €32, with proceeds supporting a €800M modernization plan including the Mona Lisa gallery. - France joins global trends of charging international tourists higher fees, as cultural sites balance revenue needs with visitor retention amid aging infrastructure challenges. - Critics warn
Bitcoin Updates: ARK's Optimistic Wager—Federal Reserve Policy Changes and $300 Billion Inflows Drive $1.5 Million Bitcoin Projection
- ARK Invest's Cathie Wood forecasts Bitcoin hitting $1.5M by 2030, citing Fed policy shifts and $300B liquidity inflows post-government shutdown. - The firm invested $93M in crypto-linked stocks (Block, Coinbase , Circle) amid market downturn, betting on easing liquidity constraints within weeks. - JPMorgan joins bullish outlook ($240K Bitcoin target), while CoinShares withdrew Solana ETF filing despite $369M inflows into crypto assets. - ARK's concentrated crypto bets face criticism over volatility risks
XRP News Today: Institutional ETF Investments Spark Significant Growth in XRP Adoption
- XRP surged over 8% as new ETFs injected $164M in inflows, marking institutional adoption growth. - Franklin Templeton's XRPZ ETF and Grayscale's GXRP led with $62.59M and $67.36M in debut-day inflows. - Analysts highlight XRP's $1.80–$3.50 trading range and potential $8 target by 2026 if key support holds. - Risks include whale selling (180M tokens offloaded) and uncertainty over Fed rate cuts impacting liquidity.
Trending news
MoreCrypto prices
More
