Coinbase is testing a brand new stablecoin referred to as $USDF on its alternate backend, the corporate stated on Tuesday by means of its Coinbase Markets account. The token has been enabled for operational testing solely, with buying and selling, deposits, and withdrawals at present unavailable.
A brand new Coinbase Customized Stablecoin, $USDF, has been enabled on Coinbase Alternate for operational testing.
Please observe: This can be a backend take a look at part solely. Buying and selling, deposits, and withdrawals are at present unavailable. Keep tuned for extra updates.
— Coinbase Markets 🛡️ (@CoinbaseMarkets) January 27, 2026
The backend take a look at marks an early part of improvement, with Coinbase saying extra updates can be shared as testing progresses. The transfer indicators a possible enlargement of the corporate’s stablecoin technique past $USDC, which it co-issues with Circle.
The announcement follows Coinbase’s broader push to roll out new product options throughout its platform. Late final yr, the alternate outlined plans to develop into areas together with inventory linked merchandise, perpetual futures buying and selling, prediction markets, and enhanced stablecoin issuance capabilities.
As a part of a broader push to develop its product suite, Coinbase additionally unveiled its Customized Stablecoin infrastructure late final yr. The framework permits the issuance of dollar-backed tokens totally collateralized with $USDC and is now getting used to help the event of $USDF throughout its backend testing part.
