Coinbase's stablecoin fund CUSHY plans to launch a tokenized share class through Superstate in the second quarter.

CoinFeed reported on May 1st that, according to The Block, Coinbase has partnered with Superstate to launch the stablecoin lending fund CUSHY, providing institutional investors with exposure to credit strategies within the stablecoin ecosystem. CUSHY, expected to launch in the second quarter, is the first external fund issued using Superstate's FundOS platform and is managed by Northern Trust Hedge Fund Services. The fund generates returns through lending stablecoins and private credit opportunities, and its tokenized shares can be used as collateral and transferred in compliant digital venues. The President of Coinbase Asset Management stated that the fund combines the efficiency of the digital track with the institutional rigor of traditional lending.