Coinbase Experiments With Flipcash’s USDF as It Rolls Out Custom Stablecoins

Coinbase has begun backend testing of Flipcash’s in-development stablecoin, USDF, as a part of a broader push to let companies difficulty their very own branded, dollar-backed tokens by way of its platform.

The check is tied to Coinbase Custom Stablecoins, a characteristic launched in December that permits corporations to create proprietary stablecoins collateralized by Circle’s USDC.

The program is designed to let companies earn rewards tied to token exercise whereas shifting funds throughout Coinbase-supported blockchains with out friction.

Coinbase Begins Internal Testing of USDF Custom Stablecoin

“A brand new Coinbase Custom Stablecoin, USDF, has been enabled on Coinbase Exchange for operational testing,” the corporate said in a post on X on Tuesday.

Coinbase harassed that the rollout is restricted to inside testing, with buying and selling, deposits and withdrawals presently disabled.

Custom stablecoins are being pitched as instruments that give corporations better management over funds and treasury operations.

Potential use circumstances embrace payroll, business-to-business settlements, cross-border transfers and inside liquidity administration, areas the place conventional banking rails will be gradual or pricey.

The USDF stablecoin is being developed by crypto infrastructure agency Flipcash and is predicted to launch publicly in early 2026.

A brand new Coinbase Custom Stablecoin, USDF, has been enabled on Coinbase Exchange for operational testing.

Please notice: This is a backend check part solely. Trading, deposits, and withdrawals are presently unavailable. Stay tuned for extra updates.

— Coinbase Markets (@CoinbaseMarkets) January 27, 2026

Once stay, USDF is ready to grow to be the first stablecoin used throughout the Flipcash app, in response to folks aware of the undertaking.

Flipcash is just not the one agency working with Coinbase on customized stablecoins.

Solana-based self-custody pockets Solflare and decentralized finance platform R2 are additionally collaborating with the alternate to develop branded stablecoin merchandise utilizing the identical framework.

Coinbase’s push comes as stablecoins proceed to play a central position in its enterprise mannequin.

The alternate maintains an in depth partnership with Circle, the issuer of USDC, which stays one of the crucial broadly used dollar-pegged tokens within the crypto market.

Through that relationship, Coinbase earns a share of curiosity revenue and costs tied to USDC utilization.

Stablecoins have grow to be a big income driver for the corporate. Coinbase reported practically $247 million in stablecoin-related income within the fourth quarter, underscoring how intently its monetary efficiency is tied to the expansion of dollar-backed tokens.

Stablecoin Transactions Hit $33 Trillion in 2025 as USDC Leads Usage

Global stablecoin transaction value reached $33 trillion in 2025, marking a 72% enhance from the earlier yr, in response to Bloomberg information compiled by Artemis Analytics.

USDC emerged as the most-used stablecoin by transaction quantity, processing $18.3 trillion, whereas Tether’s USDT dealt with $13.3 trillion, regardless of sustaining its lead by market capitalization at $187 billion.

The surge in exercise adopted the passage of the GENIUS Act in July 2025, the primary complete U.S. regulatory framework for fee stablecoins.

Industry members say the laws has supplied authorized certainty that inspired broader institutional and international adoption.

As reported, stablecoin utilization on fintech platform Revolut additionally accelerated sharply in 2025, with fee volumes estimated to have climbed 156% yr over yr to roughly $10.5 billion, as digital {dollars} achieve floor in on a regular basis funds.

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