Coinbase’s ‘CUSHY’ stablecoin fund to launch tokenized share class via Superstate in Q2
The Block
Coinbase and Superstate will launch the CUSHY stablecoin fund in Q2, offering tokenized shares for institutional investors.Summary
Coinbase and Superstate are partnering to launch the Coinbase Stablecoin Yield Fund (CUSHY) in the second quarter. This fund will offer institutional investors exposure to credit strategies within the stablecoin ecosystem through a structured fund vehicle with tokenized shares. CUSHY will be the first external fund to utilize Superstate's new FundOS platform, which enables tokenization of fund shares on blockchains like Solana, Ethereum, and Base, allowing for onchain use as collateral and 24/7 trading. The fund aims to generate yield by lending stablecoins and engaging in private credit opportunities. This initiative follows Coinbase's earlier launch of the Bitcoin Yield Fund, which also features a tokenized share class.
(Source：The Block)