Cloudflare to launch USD-backed digital coin

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Cloudflare plans to launch a stablecoin called NET Dollar that will be fully backed by the US dollar, CEO Matthew Prince said on September 26.

The company did not specify a launch date but indicated the stablecoin would be available soon.

Cloudflare is launching a stablecoin as other financial and cryptocurrency firms are planning or preparing similar offerings.

Cloudflare’s shares dipped less than 1% in midday trading, with the company valued at about US$76 billion.

🔗 Source: The Block

Recent Cloudflare developments

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