Kik founder's latest app Flipcash first to tap Coinbase's stablecoin-as-a-service platform

<p><span style="font-weight: 400;">Flipcash has tapped Coinbase’s Custom Stablecoin platform to launch a native stablecoin on Solana, according to an announcement on Wednesday. </span></p>

<p><span style="font-weight: 400;">The token, USDF, will be used for "cash-like payments" within the Flipcash app, the platform founded by Kik creator Ted Livingston that enables users to create and trade their own fixed-supply "community currencies."</span></p>

<p><span style="font-weight: 400;">USDF will be pegged 1:1 to the U.S. dollar and fully backed by USDC.

Coinbase’s custom stablecoin platform handles issuance, reserves, compliance, and other features. </span></p>

<p><span style="font-weight: 400;">"We launched USDF with Coinbase because they delivered everything we needed to power a seamless consumer experience in Flipcash," Livingston said.