Coinbase's asset management division has announced the launch of a stablecoin credit fund, providing investors with on-chain access to tokenized shares. The fund, known as CUSHY, targets institutional investors seeking to generate yield from lending activities tied to digital assets.
Investors can hold shares on-chain through Superstate's platform, with the fund available on Ethereum, Solana, and Base. This development reflects the growing convergence of traditional credit markets and crypto infrastructure, with stablecoin transactions surging in recent years. According to Anthony Bassili, president of Coinbase Asset Management, 'Stablecoins are the foundation of the next financial era.' The fund's tokenized share class is powered by FundOS, Superstate's platform for bringing investment funds on-chain.
This approach is gaining traction, with asset managers like Invesco adopting the platform to issue and manage blockchain-based shares. The partnership is expected to enable the fund to expand across multiple blockchain networks and into decentralized finance use cases.