Overview
- Coinbase Asset Management, which launched the Coinbase Stablecoin Credit Strategy (CUSHY) Thursday, is offering a stablecoin‑linked credit fund with an optional on‑chain share class on Superstate’s FundOS across Ethereum, Solana and Base.
- CUSHY targets qualified and institutional investors, with Coinbase Prime providing prime services and Northern Trust handling fund administration.
- The tokenized share option lets investors hold fund shares on a blockchain for round‑the‑clock transfer, audit‑ready tracking, and direct interaction with on‑chain tools.
- The portfolio follows three pillars that combine digital and traditional markets: public on‑chain credit, structured private credit to digital‑native and traditional borrowers, and tokenized yield sources.
- Coverage frames the launch as part of early but growing adoption of shared tokenization stacks like FundOS, which CoinDesk notes has drawn big managers such as Invesco, as stablecoin use swelled to an estimated $33 trillion in 2025 transaction volume.