Cloudflare R2 is object storage with an S3-compatible API, intended for files, backups and datasets that existing S3 tools and SDKs can reach without rewriting applications. It is offered as a cloud service within Cloudflare's developer platform and can be accessed through Workers and through the S3 interface.
Cloudflare, Inc. is headquartered in San Francisco, California, and has been listed on the NYSE since 2019 under the ticker NET. According to the documentation, a location hint is a best effort rather than a guarantee, while a jurisdictional restriction such as the EU setting guarantees that objects stay within the European Union. Without that restriction the documentation does not fix where objects are stored. Because the company is US-based, US legal reach may apply to data stored in the EU, so the processing terms and the jurisdiction setting deserve attention before use.