Coinbase’s CUSHY is expanding institutional credit onchain through a tokenized fund for qualified investors. The strategy links stablecoin settlement, tokenized shares, and credit exposure as stablecoin volume exceeded $33 trillion in 2025.
Key Takeaways:
Stablecoin settlement is now moving deeper into institutional credit. Coinbase Asset Management announced on April 30, 2026, the launch of Coinbase Stablecoin Credit Strategy, a tokenized credit fund for qualified investors and institutions. The strategy, called CUSHY, offers credit exposure through onchain infrastructure, tokenized shares, and stablecoin-focused market access.
CUSHY allows eligible investors to hold tokenized shares with transparency and 24/7 onchain utility. The fund runs on Superstate’s FundOS platform, which supports fund tokenization. Coinbase Asset Management said:
“Credit is moving onchain.”
