Cloudflare (NET) Climbs 6.6% on Coinbase Deal Buzz

Cloudflare Inc. (NYSE:NET) is one of the 10 Stocks Heating Up Amid Market Panic.

Cloudflare rallied for a second day on Wednesday, jumping 6.60 percent to finish at $225.48 apiece, as investors snapped up shares following reports that it is partnering with crypto exchange operator, Coinbase, for the establishment of a new stablecoin designed for AI agent transactions.

A report by The Information said that Coinbase and crypto infrastructure startup, Zerohash, are looking to issue a new stablecoin for Cloudflare Inc. (NYSE:NET), as Coinbase bets big on artificial intelligence payments to look for other sources of growth amid a struggling brokerage business due to the market downturn.

The deal aims to leverage Cloudflare Inc.’s (NYSE:NET) critical role in managing web traffic and cybersecurity.

Cloudflare (NET) Climbs 6.6% on Coinbase Deal Buzz

“It’s certainly one of our top priorities as a company,” Coinbase Chief Business Officer Shan Aggarwal was quoted as telling The Information.

Its approach to making money from agents differs from its consumer business, he said, adding that they “monetize it mostly by providing the infrastructure that agents use.”

The news builds on an earlier partnership between Coinbase and Cloudflare Inc. (NYSE:NET) to develop an open Internet standard for digital payments.

Called the x402 Foundation, the service was aimed at simplifying the process of sending and receiving payments on the Internet for website owners, developers, and content creators globally.

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