Coinbase is testing Flipcash’s USDF stablecoin through backend operations as part of its custom stablecoin program, with the pilot backed by Circle’s USDC and involving multiple ecosystem partners.
Coinbase is conducting backend operations testing for Flipcash’s USDF stablecoin under its custom stablecoin feature launched in December. The USDF pilot is backed by Circle’s USDC and focuses on validating infrastructure before broader use. Other partners, including Solflare and R2, are also developing their own stablecoins within the same framework.