Coinbase’s new credit fund shows why banks are fighting stablecoin yield on the Clarity Act
CryptoSlate
Coinbase launched the CUSHY credit fund to leverage stablecoin infrastructure for institutional lending, highlighting a growing tension with traditional banking models.Summary
Coinbase has introduced the Coinbase Stablecoin Credit Strategy (CUSHY), a fund targeting institutions by offering exposure to private credit through tokenized assets. By utilizing blockchain rails for subscription and settlement, Coinbase aims to modernize institutional finance. However, the product faces significant hurdles, including inherent liquidity risks, competition from bank-issued tokenized deposits, and regulatory scrutiny regarding the systemic interconnectedness between traditional banks and private credit vehicles.
(Source：CryptoSlate)