Flipcash’s USDF Marks Coinbase’s First Stablecoin Trial

Crypto News Cryptocurrencies

Flipcash’s USDF Becomes Coinbase’s First Custom Stablecoin Test

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 28, 2026

Key Takeaways

Coinbase is preparing to let companies issue their own branded stablecoins through its new Custom Stablecoins feature;
The exchange is testing Flipcash’s USDF on its internal systems, with a public launch expected in early 2026;
Other partners like Solflare and R2 are also developing their own custom stablecoins with Coinbase’s support.

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Flipcash’s USDF Becomes Coinbase’s First Custom Stablecoin Test

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The cryptocurrency exchange Coinbase $1.42B is getting ready to let companies issue their own branded, dollar-pegged tokens.

As part of this plan, Coinbase is testing a stablecoin called USDF on its internal systems.

This test is connected to a new feature called Coinbase Custom Stablecoins, introduced in December 2025. The feature will allow businesses to create dollar-backed tokens that move smoothly across networks supported by Coinbase.

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Each token will be backed by Circle’s USDC USDC $1.00 , and participating companies can earn rewards based on their activity.

In a post on X on January 27, Coinbase shared an update:

A new Coinbase Custom Stablecoin, USDF, has been enabled on Coinbase Exchange for operational testing. This is a backend test phase only. Trading, deposits, and withdrawals are currently unavailable.

USDF is being developed by Flipcash, a crypto infrastructure firm, and is expected to launch publicly in early 2026. Once released, it will become the main stablecoin used on the Flipcash app.

Coinbase is also collaborating with other projects exploring similar solutions. The self-custody wallet Solflare, focused on the Solana SOL $127.26 ecosystem, and the R2 decentralized finance platform are both preparing their own versions of custom stablecoins.

Recently, Bermuda announced plans to become the world’s first fully on-chain national economy with help from Circle and Coinbase. How? Read the full story.