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Coinbase has begun backtesting Flipcash’s in-development stablecoin, called USDF, as part of a broader push to allow companies to issue their dollar-backed and popular tokens through its platform.
Important points:
- Coinbase is testing Flipcash’s USDF within its dedicated stablecoin program.
- This enables businesses to issue USDC-backed tokens for payment and financial management.
- Stablecoins remain Coinbase’s main source of income.
The test is tied to Coinbase’s stablecoins, which were released in December and allow companies to create special stablecoins with Circle’s USDC.
The program is designed to enable businesses to earn rewards linked to token services while moving funds seamlessly across Coinbase’s blockchains.
Coinbase has begun testing within its USDF stablecoin tradition
The company said in a post on the X platform on Tuesday : “The new Coinbase Custom Stablecoin, USDF, has been introduced on the Coinbase Exchange for testing purposes.”
Coinbase has confirmed that the launch is only for internal testing, with transactions, deposits and withdrawals currently in progress.
Dedicated stablecoins are being promoted as tools that give companies greater control over payments and financial services.
Potential use cases include payments, business setup, cross-border transfers, and internal cash management, areas where traditional banking methods can be ineffective or expensive.
The USDF stablecoin is being developed by cryptocurrency infrastructure company Flipcash and is expected to launch publicly in early 2026.
Coinbase’s new Custom Stablecoin, USDF, has been supported on the Coinbase Exchange for testing purposes.
Please note: This is just a test session. Sales, bookings, and deliveries are not available. Stay tuned for more information.
– Coinbase markets
(@CoinbaseMarkets) January 27, 2026
According to people familiar with the project, USDF, which was launched, is set to become the main stablecoin used within the Flipcash program.
Flipcash isn’t the only company working with Coinbase on stablecoins.
The Solflare self-custodial wallet based on Solana and DeFi platform R2 is also partnering with exchanges to create stablecoin transactions using the same protocol.
This move from Coinbase comes at a time when stablecoins continue to play an important role in its business.
The exchange maintains a close relationship with Circle, the issuer of USDC, which is still one of the most used digital currencies for the dollar in the cryptocurrency market.
Through this partnership, Coinbase earns a share of the interest and fees associated with the use of USDC.
Stablecoins have become an important source of capital for companies. Coinbase reported $247 million in revenue from stablecoins in the previous quarter, which shows how closely its currency is tied to the growth of dollar-backed tokens.
Global stablecoin transactions will reach $33 trillion in 2025, USDC tops the list of most used currencies.
The value of global stablecoin transactions will reach $33 trillion in 2025, registering a 72% increase from last year, according to Bloomberg data compiled by Artemis Analytics.
USDC emerged as the most used stablecoin in terms of trading volume, processing $18.3 trillion, while Tether’s USDT processed $13.3 trillion, although it still maintained its lead in market capitalization at $187 billion.
This increase was followed by the passage of the GENIUS Act in July 2025, the United States’ first direct investment in fixed income.
Industry stakeholders say the regulations have provided legal certainty that has boosted their adoption historically and globally.
According to reports, the use of stablecoins on the fintech platform Revolut peaked in 2025, with payments increasing 156% year-on-year to nearly $10.5 billion, as digital dollars earn daily payments.
A note Coinbase is conducting a test on Flipcash’s USDF stablecoin in conjunction with the release of the stablecoin. appeared for the first time Cryptonews Arabic.
