Coinbase’s CUSHY stablecoin fund will launch tokenized equity via Superstate in Q2

Coinbase partners with Superstate to launch a stablecoin lending fund CUSHY, targeting institutional investors.

This fund is scheduled to launch in Q2 and is the first external fund issued on Superstate’s FundOS platform. Northern Trust Hedge Fund Services will manage the fund, with profits coming from lending stablecoins and private lending opportunities.

The encoded fund certificates can be used as collateral and transferred on compliant digital channels. Coinbase Asset Management’s chairman stated that this model combines the efficiency of digital infrastructure with the governance standards of traditional lending operations.

Superstate previously used FundOS to issue USTB and USCC fund strategies, with total assets under management exceeding $1 billion.

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