As crypto exchanges remain to grow their network for firms offering branded digital currencies, Coinbase promoted USDF in collaborating with Flipcash, the first system using Coinbase’s stablecoin system. The token serves as the main dollar asset within the system and is linked to Solana, backed 1:1 by Circle’s USD Coin.
Wednesday’s announcement noted that USDF is structured to provide settlement assets for digital currencies developed on Flipcash, a system enabled to introduce fixed-supply cryptocurrencies valued and settled using stablecoin. Also, it is structured to enable firms to earn rewards associated with token activity while shifting funds over Coinbase blockchains with ease.
Coinbase also promoted its token issuance service, known as white-label stablecoin, for firms aiming for branded digital dollar products without supervising firms’ reserve, holdings or settlement system. Flipcash covers fiat-to-digital asset conversion services, wallet systems, and USDC reserve support.
Furthermore, Flipcash stated that it selected Coinbase’s system to integrate the USDC reserve support, onchain settlement system and built-in fiat-to-digital asset services.
In contrast, the data shows from DefiLlama that USDC is currently the second-largest stablecoin in terms of market capitalization, with a value of approximately $77 billion.
According to CoinMarketCap, the stablecoin market targeted $312.6 billion or approximately $2 trillion by April 2028. Earlier in the current, the stablecoin payment flows will grow of about 81% compounded yearly growth rate approximately $5.6 trillion by 2030.
The Increasing Shift Toward White-Label Stablecoins
After promoting its white-label stablecoin, both stablecoin issuers and crypto infrastructure expand its business by offering branded digital dollar products without requiring the firms to supervise its reserve or blockchain system.
Stripe also promoted its Open Issuance in September 2025, a system which enables firms to develop and supervise their own stablecoin using the Bridge unit. Additionally, the company noted that the systems enable the firms to manage token issuance, branding, and reserve structure while integrating with a shared liquidity system.
Meanwhile, Western Union promoted Solana-based USDPT stablecoin in May, with issuance managed by Anchorage Digital and wallet and settlement system provided by Fireblocks. The two companies claimed that the token issuance is backed through blockchain-based settlement and broader payment services within the remittance system.
Earlier in the current month, Bakkt completed its purchase of a token system developed by Distribute Technologies Research, targeting to implement a 24/7 digital settlement system through tokens and AI-based payment solutions. This reflects the increasing expansion of token issuances, payments, and settlement systems among cryptocurrency firms.
According to Cointelegraph, the data showed from DefiLlama that the market capitalization increased to approximately $323 billion from $244 billion in a previous year, showing growth closely to 32%.
