Coinbase (COIN) launches tokenized stablecoin credit fund on Solana, Ethereum, Base
Coinbase‘s (COIN) asset management arm said Thursday it’s rolling out a credit fund tied to stablecoin markets, with plans to offer investors onchain access through a tokenized share class. The fund, called the Coinbase Stablecoin Credit Strategy (CUSHY), targets institutional investors seeking yield from lending activity tied to digital assets. Investors will have the option to hold shares onchain through tokenization specialist Superstate‘s platform. The fund will be available on Ethereum, Solana, and Base, Coinbase’s blockchain built on Ethereum. The fund reflects a growing overlap between traditional credit markets and crypto infrastructure. Transactions in stablecoins — cryptocurrencies with prices pegged to fiat money — have surged in recent years as more financial activities migrate onto blockchains. The supply of stablecoins doubled to $300 billion in the past two years, while monthly transaction volume tripled to $1.2 trillion. “Stablecoins are the bedrock of the next financial era,” said Anthony Bassili, president of Coinbase Asset Management. “With CUSHY, we are fusing the efficiency of digital rails with the rigor of traditional credit.” Fund tokenization trend The move also highlights a broader trend: Asset managers are starting to treat tokenization as an extension of existing products for broader distribution, a shift that could bring more traditional finance activity to