Kik founder’s latest app Flipcash first to tap Coinbase’s stablecoin-as-a-service platform
The Block
Flipcash, an app founded by Ted Livingston, has launched the Solana-based stablecoin USDF using Coinbase’s new stablecoin-as-a-service infrastructure.Summary
Flipcash, a payments app created by Kik founder Ted Livingston, has become the first platform to utilize Coinbase’s "stablecoin-as-a-service" offering. The app introduced a Solana-based stablecoin called USDF, which is pegged 1:1 to the U.S. dollar and backed by USDC. By leveraging Coinbase’s infrastructure, Flipcash avoids the complexities of issuance, reserves, and compliance. This move highlights growing competition in the stablecoin issuance market, as platforms like Paxos, Bridge, and Anchorage expand their services to meet increasing demand for branded stablecoin solutions.
(Source：The Block)