Coinbase launches CUSHY, a stablecoin credit strategy fund offering on-chain tokenized shares.

CoinFeed reported on April 30th that, according to CoinDesk, Coinbase Asset Management (CBAM) has launched the Coinbase Stablecoin Credit Strategy (CUSHY) fund, targeting institutional investors and primarily generating returns through stablecoin-related on-chain lending and private credit. The fund will issue tokenized shares through Superstate's FundOS platform, supporting holding and settlement on the Ethereum, Solana, and Base chains. The report points out that CUSHY combines the traditional credit market with blockchain infrastructure, aligning with the trend of asset management institutions tokenizing funds and distributing products using shared on-chain infrastructure.