Coinbase’s asset manager to offer stablecoin credit fund with tokenized share class
The fund, dubbed CUSHY, targets yield from onchain lending and private credit, offering tokenized access through Superstate for institutional investors.
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.
Investors will have the option to hold shares onchain through tokenization specialist Superstate’s platform. The fund will be available on Ethereum, Solana, and Base, Coinbase’s blockchain built on Ethereum.
The fund reflects a growing overlap between traditional credit markets and crypto infrastructure. Transactions in stablecoins — cryptocurrencies with prices pegged to fiat money — have surged in recent years as more financial activities migrate onto blockchains. The supply of stablecoins doubled to $300 billion in the past two years, while monthly transaction volume tripled to $1.2 trillion.
“Stablecoins are the bedrock of the next financial era,” said Anthony Bassili, president of Coinbase Asset Management. “With CUSHY, we are fusing the efficiency of digital rails with the rigor of traditional credit.”
