Coinbase Launches USDF Stablecoin Testing

Coinbase Begins Backend Testing of New USDF Stablecoin

• Coinbase is conducting operational testing of a new stablecoin, USDF, on its exchange backend.
• The testing phase currently does not allow for trading, deposits, or withdrawals.
• This initiative indicates a potential expansion of Coinbase’s stablecoin strategy beyond USDC.
• The development aligns with Coinbase’s broader plans to enhance its product offerings, including stock-linked products and perpetual futures trading.
• The Custom Stablecoin infrastructure launched last year supports the issuance of dollar-backed tokens fully collateralized with USDC.

Coinbase has initiated backend testing for its new stablecoin, USDF, marking an early phase in expanding its stablecoin strategy. The test phase currently excludes trading and transactions but aligns with recent efforts to broaden product capabilities on the platform.