Coinbase unveils CUSHY: Tokenized stablecoin credit fund

Coinbase Asset Management launched CUSHY, a tokenized credit fund for institutions, offering onchain access to stablecoin-linked credit markets across Ethereum, Solana, and Base.

Coinbase Asset Management has introduced CUSHY, a tokenized credit fund tailored for institutional and qualified investors seeking yield from stablecoin-linked markets and onchain finance. The fund offers exposure to both public and private credit, as well as blockchain-based yield opportunities, by issuing tokenized shares that can be held and transferred directly onchain across Ethereum, Solana, and Base networks. CUSHY operates on Superstate’s FundOS platform, ensuring transparency and continuous access. Coinbase Prime provides custody and trading services, while Northern Trust manages fund administration. This structure bridges traditional credit markets with the rapidly expanding stablecoin economy, leveraging the surge in stablecoin supply and transaction volumes. CUSHY exemplifies the growing trend of asset managers adopting tokenization to expand product distribution and integrate traditional finance with blockchain infrastructure.