Coinbase and Superstate launch stablecoin credit fund CUSHY

According to The Block, Coinbase has partnered with Superstate to launch the stablecoin credit fund CUSHY, providing institutional investors with credit strategy exposure within the stablecoin ecosystem. CUSHY is expected to be launched in the second quarter and is the first external fund to be issued through Superstate's FundOS platform, managed by Northern Trust Hedge Fund Services. The fund earns profits through borrowing stablecoins and private credit opportunities, and its tokenized shares can be used as collateral and transferred in compliant digital venues.