Coinbase Unveils CUSHY: Stablecoin Credit Fund With On-Chain Tokenized Shares

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Coinbase’s asset manager to offer stablecoin credit fund with tokenized share classFinance

What to know:

  • Coinbase Asset Management (CBAM) is introducing a credit fund tied to stablecoin markets with a tokenized share class.
  • The fund, dubbed CUSHY, will use Superstate’s FundOS platform to issue onchain shares on Ethereum, Solana, Base blockchains.
  • The move reflects growing demand for yield products built on blockchain-based rails, CBAM president said.

Coinbase announced Thursday that its asset management division is launching a new fund focused on stablecoins. Investors will be able to access the fund through tokenized shares, allowing for on-chain investment.

The Coinbase Stablecoin Credit Strategy (CUSHY) is a fund designed for institutions that want to earn returns by lending digital assets.

Investors can choose to own shares directly on the blockchain using Superstate’s platform, which specializes in tokenization. The fund will be accessible on three blockchains: Ethereum, Solana, and Base – a blockchain created by Coinbase that runs on Ethereum.

This fund highlights the increasing connection between traditional finance and the world of cryptocurrency. Stablecoins – digital currencies designed to maintain a steady value linked to traditional money – have become much more popular recently as more financial activity moves to blockchain technology. Over the past two years, the total supply of stablecoins has doubled to $300 billion, and the amount traded each month has tripled to $1.2 trillion.

According to Anthony Bassili, head of Coinbase Asset Management, stablecoins are essential for the future of finance. He explains that CUSHY combines the speed of digital transactions with the security of established financial practices.

Fund tokenization trend

This development shows a growing trend: asset managers are beginning to see tokenization as a way to expand their current offerings and reach more investors. This could lead to more traditional financial practices being used on blockchain technology.

CUSHY uses FundOS, a platform created by Superstate, to make investment fund shares available on the blockchain. This allows asset managers to easily issue and manage digital shares alongside their existing traditional shares, without needing to create complex token systems from scratch.

This strategy is becoming increasingly popular. Invesco, a major investment firm managing over $2 trillion, recently started using the platform, highlighting a shift towards shared technological systems instead of individual, separate tokenization projects.

Superstate acts as a bridge between those wanting to use blockchain technology and experienced financial managers, explained co-founder Jim Hiltner.

Superstate anticipates that many more investment firms will start using its platform soon, indicating a strong start and growing interest beyond its first group of partners.

According to Superstate CEO Robert Leshner, this partnership will help the fund grow by reaching more blockchain networks and exploring opportunities in decentralized finance (DeFi).

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2026-04-30 17:07