Coinbase and Flipcash Launch USDF Custom Stablecoin on Solana Network | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis

Coinbase and payments platform Flipcash have announced the launch of USDF, a US dollar stablecoin issued on the Solana blockchain and fully backed by USDC, developed using Coinbase’s Custom Stablecoin platform.

The company believes the collaboration marks a step forward in making stablecoin issuance more accessible to businesses, combining Flipcash’s community currency platform with Coinbase’s institutional-grade blockchain infrastructure. 

USDF will serve as the settlement and pricing layer within Flipcash’s ecosystem, where users can create fixed-supply currencies and use them as digital cash, with each currency priced and settled in USDF.

Coinbase’s custom stablecoin offering allows businesses to create their own branded stablecoin — issued by Coinbase and backed one-to-one by USDC and other US dollar stablecoins — without the need to build the underlying blockchain architecture independently. 

For Flipcash, the platform provided branded stablecoin issuance with transparent USDC backing, USDC rewards that scale with circulating supply, straightforward fiat on-ramps for users via Coinbase Onramp, and the reliability associated with Coinbase’s twelve years of cryptocurrency infrastructure development.

The launch illustrates the broadening of stablecoin issuance beyond large financial institutions and technology firms. 

By abstracting the technical complexity of blockchain deployment, Coinbase’s platform enables businesses of varying sizes to enter the stablecoin market with a branded product, built on compliant and transparent infrastructure, without the significant engineering investment that stablecoin development has historically required.

Coinbase said any business can now launch a branded stablecoin without building the underlying infrastructure itself.