Today, Coinbase Asset Management announced the launch of a tokenized credit fund, Coinbase Stablecoin Credit Strategy, designed to bridge the gap between traditional credit markets and the growing digital asset ecosystem.

To meet the evolving needs of sophisticated investors, Coinbase Asset Management introduces CUSHY – a digital credit strategy, designed to bridge the gap between traditional credit markets and the growing digital asset ecosystem.

For qualified investors and institutions, CUSHY offers investors the option of tokenized shares with transparency and 24/7 onchain utility, powered by FundOS, Superstate’s new turnkey platform that allows asset managers to tokenize funds. Superstate connects financial assets with crypto capital markets to expand access, improve liquidity, and advance capital formation through onchain public listings and tokenized investment products.

CUSHY is designed as a diversified opportunistic credit strategy built to capture unique yield premiums created by the migration of capital onchain.

Coinbase Asset Management has leveraged its digital-native acumen to build a solution that targets three core pillars:

• Public Credit: High-quality, liquid credit instruments connected to the digital economy.
• Private & Opportunistic Credit: Asset-based (ABL) debt solutions for digitally native and traditional borrowers transitioning to high-efficiency digital rails.
• Structural Alpha: blending credit with tokenization, protocol incentives, rewards, and bespoke onchain market structure positions CUSHY at the intersection of TradFi and digital markets.

CUSHY has established a bench of strategic partnerships with a select group of largest credit firms in the industry to help bring credit onchain.

CUSHY’s fund structure is designed to accommodate a wide investor base, including both US and certain foreign investors, supported by industry-leading partners:

• Prime Service: Coinbase Prime
• Tokenization Services: Superstate (utilizing FundOS)
• Fund Administration: Northern Trust
• Networks: Base, Solana and Ethereum.