[Coinbase's Stablecoin Fund CUSHY Set to Launch Tokenized Share Class via Superstate in Q2] According to The Block, Coinbase has partnered with Superstate to launch the stablecoin credit fund CUSHY, which will provide institutional investors with exposure to credit strategies within the stablecoin ecosystem. CUSHY is expected to launch in the second quarter and is the first external fund issued using Superstate's FundOS platform, managed by Northern Trust Hedge Fund Services. The fund generates returns through stablecoin lending and private credit opportunities, with its tokenized shares usable as collateral and transferable on compliant digital venues. Coinbase Asset Management's president stated that the fund combines the efficiency of digital rails with the institutional-grade rigor of traditional credit.