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21/05/26 16:45 UTC-04

Coinbase and Flipcash Launch the USDF Stablecoin

Coinbase — the cryptocurrency exchange and blockchain infrastructure provider — together with digital currency platform Flipcash announced the launch of USDF, a new stablecoin built on the Coinbase Custom Stablecoin platform.

What Is USDF?

USDF is a US dollar-pegged stablecoin issued on the Solana network and fully backed by reserves of USD Coin.

The project was designed to simplify stablecoin issuance and enable companies and communities to launch their own digital currencies without having to develop blockchain infrastructure independently.

How the Flipcash Ecosystem Will Work

Within the Flipcash ecosystem, users will be able to create digital currencies with a fixed supply and use them as a digital means of payment.

All such currencies will be priced and serviced through USDF, which will serve as the platform’s unified settlement layer.

This will allow users to utilise a stable digital asset for:

  • purchases;
  • storing funds;
  • money transfers.

Coinbase Custom Stablecoin Platform

The Coinbase Custom Stablecoin platform from Coinbase enables companies to issue their own branded stablecoins using Coinbase’s existing infrastructure.

The platform provides:

  • 1:1 reserve backing based on USD Coin and other US dollar-denominated assets;
  • fiat on-ramp and off-ramp tools;
  • payment infrastructure support.

See also: "Hyperliquid Token Surges 50% in a Week and Hits a Record High"

#USDF #Flipcash #Coinbase #Stablecoins

Editor: Alyona Nabok
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