Kik founder launches native stablecoin USDF using Flipcash app

According to The Block, Flipcash, a subsidiary of Kik founder Ted Livingston, has launched its native stablecoin USDF on Solana using Coinbase's custom stablecoin platform. USDF is anchored 1:1 with the US dollar, fully supported by USDC, and Coinbase is responsible for issuance, reserves, and compliance management. USDF will be used for cash like payments within the Flipcash app. Flipcash is a Solana based digital payment application that supports users to create and trade a fixed supply of 'community currency'.