PANews reported on January 28th that, according to Cointelegraph, Coinbase is testing USDF, a stablecoin developed by Flipcash, as part of its "Coinbase Custom Stablecoins" feature. Launched last December, this feature allows businesses to create their own branded USD stablecoins, backed by Circle's USDC collateral, and supports seamless fund transfers across Coinbase-compatible chains.

Coinbase stated on its X platform that USDF is currently operational and undergoing testing on the Coinbase exchange backend, but trading, deposit, and withdrawal functions are not yet available. Customized stablecoins can provide businesses with greater flexibility in areas such as payroll, B2B transactions, cross-border settlements, and fund management. In addition to Flipcash, Solflare, a self-custodied wallet focused on Solana, and R2, a decentralized finance platform, are also collaborating with Coinbase to develop their respective customized stablecoin solutions.