Publicly traded cloud infrastructure firm CloudFlare—which powers a significant chunk of internet traffic—is launching a U.S. dollar-backed stablecoin, the NET Dollar, to help propel the future of AI-driven finance on the internet, the firm announced on Thursday. 

“For decades, the business model of the Internet ran on ad platforms and bank transfers. The internet’s next business model will be powered by pay-per-use, fractional payments, and microtransactions—tools that shift incentives toward original, creative content that actually adds value,” said Cloudflare CEO and co-founder Matthew Prince in a statement. 

“By using our global network,” he added, “we are going to help modernize the financial rails needed to move money at the speed of the internet, helping to create a more open and valuable internet for everyone.”

An FAQ on the firm’s NET Dollar webpage indicates that the stablecoin will be made available soon, but did not address which blockchain it will live on.

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