Coinbase Competes for Cloudflare Partnership on AI Stablecoin for Machine Payments

Coinbase is competing for a partnership with Cloudflare to develop a stablecoin for AI-related transactions, The Information reports. The collaboration would have Coinbase provide a crypto-native payments layer while using Cloudflare's infrastructure, which handles roughly 20% of global web traffic. The proposed stablecoin would target AI agents making high-frequency, low-value payments that traditional card networks cannot efficiently support, building on Coinbase's Base Layer 2 network and USDC stablecoin.