Coinbase and Flipcash Launch Solana-Based Stablecoin USDF on Coinbase Platform

Coinbase and Flipcash have launched USDF, a Solana (SOL)-based stablecoin backed 1:1 by USD Coin (USDC), on Coinbase's white-label issuance platform. The token is designed to function as the primary settlement asset for currencies created and transacted within the Flipcash app.

Flipcash selected Coinbase's platform because it provided USDC-backed reserves, on-chain settlement infrastructure, and integrated fiat access through a single provider. USDF is intended to serve as the dollar-denominated foundation for any fixed-supply digital currencies users launch within the Flipcash system.

Coinbase launched its white-label stablecoin issuance service in December 2022, targeting companies that want to offer branded digital dollar products without building their own reserve management, custody, or settlement infrastructure. The platform bundles fiat on-ramps, wallet services, and USDC reserve backing. Flipcash was among the first companies identified as exploring a launch on the service.