Coinbase is testing a new stablecoin called $USDF The company revealed the exchange’s backend on Tuesday through its Coinbase Markets account. This token is enabled for operational testing only and is currently not available for trading, deposits, or withdrawals.
New Coinbase Custom Stablecoin, $USDFhas been enabled on Coinbase Exchange for production testing.
Note: This is a backend testing phase only. Trading, deposits, and withdrawals are currently not available. Please stay tuned for further updates.
— Coinbase Markets 🛡️ (@CoinbaseMarkets) January 27, 2026
Backend testing represents an early stage of development, and Coinbase says additional updates will be shared as testing progresses. This move suggests that the company’s stablecoin strategy may continue to expand. $USDCco-published with Circle.
This announcement follows Coinbase’s extensive efforts to roll out new product features across its platform. Late last year, the exchange outlined plans to expand into areas such as equity-linked products, perpetual futures trading, prediction markets, and enhanced stablecoin issuance capabilities.
As part of a broader effort to expand its product suite, Coinbase also announced a custom stablecoin infrastructure late last year. This framework enables the issuance of fully collateralized dollar-backed tokens. $USDC Currently used to support development. $USDF During the backend testing phase.
