Coinbase · The Block
Kik founder’s latest app Flipcash first to tap Coinbase’s stablecoin-as-a-service platform
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Flipcash has tapped Coinbase’s Custom Stablecoin platform to launch a native stablecoin on Solana, according to an announcement on Wednesday.
Key facts
- USDF will be pegged 1:1 to the U.S. dollar and fully backed by USDC
- Paxos arguably has the most widely adopted stablecoin-as-a-service platform, having issued PayPal’s PYUSD and Binance’s now-defunct BUSD, among others
- Flipcash has tapped Coinbase’s Custom Stablecoin platform to launch a native stablecoin on Solana, according to an announcement on Wednesday
- Coinbase rolled out its stablecoin-as-a-service offering in late 2025, enabling companies to launch branded stablecoins without needing to spin up their own infrastructure or handle other
Summary
The token, USDF, will be used for "cash-like payments" within the Flipcash app, the platform founded by Kik creator Ted Livingston that enables users to create and trade their own fixed-supply "community currencies. USDF will be pegged 1:1 to the U.S. dollar and fully backed by USDC. "The team launched USDF with Coinbase because they delivered everything they needed to power a seamless consumer experience in Flipcash," Livingston said. Coinbase rolled out its stablecoin-as-a-service offering in late 2025, enabling companies to launch branded stablecoins without needing to spin up their own infrastructure or handle other compliance-heavy aspects of token issuance.