Gate News reports that on March 19, Cloudflare (NYSE: NET) stock rose over 6%, closing at $225.48. According to sources, a CEX and crypto infrastructure provider Zerohash is competing to become the issuer of Cloudflare’s upcoming stablecoin, NET Dollar, which is scheduled to launch later this year. NET Dollar is a USD-pegged token designed to facilitate seamless transactions within the “proxy network,” a next-generation internet where autonomous AI agents independently browse, negotiate, and settle payments. Cloudflare plans to embed stablecoin functionality directly into its network infrastructure to enable efficient microtransactions driven by AI activities, including content access, data processing, and automation services. The project is based on Cloudflare’s strategic partnership last year with a CEX, together founding the x402 Foundation, aimed at promoting an open standard to re-enable the HTTP 402 “Payment Required” status code, allowing websites and developers to request and receive instant digital payments natively in browsers and applications. Zerohash has regulatory experience and technical capabilities in compliant stablecoin issuance and liquidity services.
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