Coinbase is testing USDF, a stablecoin under development by Flipcash, in the backend, Cointelegraph reported on Jan. 28.
The feature supports companies issuing their own branded, dollar-pegged tokens and is collateralised by Circle's USDC. Coinbase said on social media platform X (Twitter) that USDF is undergoing operational testing on the Coinbase exchange and that trading and deposits and withdrawals are currently not possible.
USDF is being developed by crypto infrastructure platform Flipcash and is slated for launch early this year. Coinbase is also working with Solana-based wallet Solflare and DeFi platform R2 to prepare a customised stablecoin solution.
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