Flipcash, founded by Kik's founder, launched its native stablecoin USDF using Coinbase's customized stablecoin platform.

CoinFeed reported on May 21 that, according to The Block, Kik founder Ted Livingston's app Flipcash has launched its native stablecoin USDF on Solana using Coinbase's custom stablecoin platform, becoming the first application to use Coinbase's Stablecoin-as-a-Service platform. USDF is pegged 1:1 to the US dollar and fully backed by USDC. Coinbase handles issuance, reserves, and compliance. USDF will be used for cash-like payments within the Flipcash app. Flipcash is a digital payment application built on Solana, allowing users to create and trade their own fixed-supply "community currencies." Coinbase plans to launch its Stablecoin-as-a-Service platform by the end of 2025, enabling businesses to issue branded stablecoins without building their own infrastructure.