Coinbase has partnered with Flipcash to launch USDF, a Solana-based stablecoin backed 1:1 by Circle's USD Coin. This initiative aims to expand its infrastructure business for enterprises issuing branded digital currencies.
According to a Wednesday announcement, USDF is designed to serve as a settlement asset for currencies created on the Flipcash platform, allowing users to launch fixed-supply digital currencies priced and traded in this stablecoin. Flipcash stated that the token will serve as the primary dollar asset within its application.
Flipcash chose Coinbase's platform due to its USDC-backed reserves, on-chain settlement infrastructure, and fiat access integrated through a single service.
According to DefiLlama, USDC is the second-largest stablecoin by market capitalization, with a circulation of approximately $77 billion.
Stablecoin Infrastructure Providers Expand White-Label Issuance Services
This release comes amid a growing trend of stablecoin issuers and crypto infrastructure providers offering white-label services, enabling enterprises to launch branded digital dollar products without managing their own blockchain infrastructure or reserves.
According to DefiLlama, the market capitalization of stablecoins has grown from about $244 billion a year ago to approximately $323 billion, an increase of nearly 32%.
