Coinbase is testing Flipcash’s USDF as part of a new feature that would let businesses issue branded, dollar-backed stablecoins.
Coinbase is testing Flipcash’s in-development stablecoin, USDF, on its backend as part of a new feature that will allow businesses to create their own branded, dollar-backed tokens.
The “Coinbase Custom Stablecoins” feature, introduced in December, will let businesses earn rewards on activity and allow them to move funds seamlessly between Coinbase-supported chains, with the tokens collateralized by Circle’s USDC (USDC).
“A new Coinbase Custom Stablecoin, USDF, has been enabled on Coinbase Exchange for operational testing,” Coinbase posted to X on Tuesday, adding:
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