Coinbase · Stripe · Cointelegraph
The launch marks Coinbase’s latest push into white-label stablecoin infrastructure for businesses building branded digital
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Coinbase launched USDF with Flipcash, a Solana-based stablecoin backed 1:1 by Circle's USD Coin, as the crypto exchange expands its infrastructure business for companies issuing branded digital currencies.
Key facts
- The stablecoin market capitalization has climbed to roughly $323 billion from about $244 billion a year ago, an increase of nearly 32%, according to DefiLlama data
- Earlier examples include Binance’s BUSD stablecoin, launched in 2019, and PayPal USD, launched in 2023, both of which were issued by Paxos
- Coinbase launched USDF with Flipcash, a Solana-based stablecoin backed 1:1 by Circle's USD Coin, as the crypto exchange expands its infrastructure business for companies issuing branded digital
- According to DefiLlama data, USDC is the world’s second-largest stablecoin by market capitalization, with roughly $77 billion in circulation
Summary
The launch marks Coinbase’s latest push into white-label stablecoin infrastructure for businesses building branded digital payment and settlement systems. According to Wednesday's announcement, USDF is designed to serve as the settlement asset for currencies created on Flipcash, a platform where users can launch fixed-supply digital currencies priced and transacted in the stablecoin. In December, Coinbase launched its white-label stablecoin issuance service for companies seeking branded digital dollar products without managing their own reserve, custody or settlement infrastructure. Flipcash said it selected Coinbase’s platform because it provided USDC-backed reserves, onchain settlement infrastructure and integrated fiat access through a single service.