[Coinbase Launches Stablecoin Credit Strategy Fund CUSHY, Offering On-Chain Tokenized Shares] According to a report by CoinDesk, Coinbase Asset Management (CBAM) has launched the Coinbase Stablecoin Credit Strategy (CUSHY) fund, which is tied to the stablecoin market and targeted at institutional investors. The fund primarily generates returns through stablecoin-related on-chain lending and private credit. Tokenized shares of the fund will be issued via Superstate's FundOS platform, supporting holding and settlement on Ethereum, Solana, and Base chains. The report highlights that CUSHY combines traditional credit markets with blockchain infrastructure, aligning with the trend of asset management firms tokenizing funds and leveraging shared on-chain infrastructure to distribute products.