Coinbase moves closer toward rolling out ‘custom stablecoins’
Coinbase has been working with Solflare, R2, and Flipcash to bring custom stablecoins to market, with the latest testing focused on Flipcash’s USDF.
Coinbase is testing Flipcash’s in-development stablecoin, USDF, on its backend as part of a new feature that will allow businesses to create their own branded, dollar-backed tokens.
The “Coinbase Custom Stablecoins” feature, introduced in December, will let businesses earn rewards on activity and allow them to move funds seamlessly between Coinbase-supported chains, with the tokens to be collateralized by Circle’s USDC (USDC).
“A new Coinbase Custom Stablecoin, USDF, has been enabled on Coinbase Exchange for operational testing,” Coinbase posted to X on Tuesday, adding:
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