Coinbase is currently conducting backend trials for the new stablecoin, USDF, developed by Flipcash. The testing phase for this token, which aims to support businesses in creating their own branded, dollar-backed currencies, was announced by Coinbase on X. The Coinbase Custom Stablecoins feature, launched in December, will enable businesses to earn rewards and facilitate smooth fund transfers across Coinbase-supported blockchain networks.
USDF, projected to launch in early 2026, will primarily serve as the stablecoin for the Flipcash app. During this testing phase, trading, deposits, and withdrawals are not available. Coinbase emphasizes that this is merely an operational test. The stablecoin will be backed by Circle's USDC.
Coinbase’s involvement with stablecoins has proven lucrative, generating nearly $247 million in revenue from stablecoin activities in the last quarter. The overall stablecoin market, estimated at $312.6 billion, is anticipated to grow significantly, with projections reaching $2 trillion by 2028.