Coinbase and Flipcash Launch USDF Stablecoin on Solana

Coinbase and digital payments app Flipcash have launched a new stablecoin, USDF, marking the first commercial deployment of Coinbase's white-label stablecoin infrastructure service. The token, which became operational on May 20, is issued on the Solana blockchain and is fully backed on a one-to-one basis by the USD Coin (USDC).

USDF is designed to function as the primary settlement asset within the Flipcash application, where users can create and trade fixed-supply digital community currencies. Each of these user-created currencies will be priced and settled using USDF, providing a stable, dollar-pegged unit of account for transactions. Flipcash founder and CEO Ted Livingston stated that the company chose Coinbase's platform because it delivered the necessary infrastructure to support the desired consumer experience.

The launch utilizes Coinbase's Custom Stablecoin platform, a service introduced in late 2025 that allows businesses to issue their own branded stablecoins without managing the underlying reserve custody, compliance, or blockchain settlement systems. Coinbase handles issuance, reserves, and on-chain operations for partners, while the stablecoins remain redeemable for...