Fri, 01 Maregulation

El nuevo fondo de crédito de Coinbase muestra por qué los bancos están luchando contra el rendimiento de las monedas estables en la Ley de Claridad

Bullish$ETH$SOL

Burns Brief

Mientras Washington intenta navegar la batalla de las monedas estables entre bancos y empresas de criptomonedas por la Ley de Claridad, Coinbase ha anunciado ahora la “Estrategia de Crédito Coinbase Stablecoin” (CUSHY), ta... El sentimiento del mercado se está volviendo positivo, y los comerciantes y analistas señalan un posible impulso de seguimiento en las próximas sesiones. Esté atento a la reacción de $ETH $SOL: un movimiento decisivo por encima o por debajo de niveles clave confirmará la próxima tendencia.

While Washington attempts to navigate the stablecoin battle between banks and crypto companies over the Clarity Act, Coinbase has now announced the “Coinbase Stablecoin Credit Strategy” (CUSHY), targeting qualified investors and institutions with exposure to public, private, and opportunistic credit. The firm also said that it offers investors access to the structural alpha from tokenization, protocol incentives, and on-chain market structure. The launch is a direct bet that stablecoins , which topped $33 trillion in transaction volume in 2025 and had an average of 89 million daily holding addresses, are mature enough to serve as distribution rails for institutional credit. Coinbase already earns heavily from stablecoin economics, with $1.35 billion in stablecoin revenue in 2025, and subscriptions and services accounting for 41% of net revenue, against total net revenue of $6.88 billion. Optional tokenized shares run on Superstate's FundOS platform, with Northern Trust as the fund administrator, Coinbase Prime as the prime services provider, and Base, Solana, and Ethereum as the supported networks. CUSHY fits Coinbase's existing trajectory by converting stablecoin infrastructure into an asset management product with recurring institutional relationships. Item Detail Product Coinbase Stablecoin Credit Strategy (CUSHY) Issuer Coinbase Asset Management Target investors Qualified investors and institutions Strategy focus Exposure to public, private, and opportunistic credit Additional return sources Structural alpha from tokenization, protocol incentives, and on-chain market structure Share structure Optional tokenized shares Tokenization platform Superstate FundOS Fund administrator Northern Trust Prime services provider Coinbase Prime Supported networks Base, Solana, Ethereum Strategic significance Turns stablecoin infrastructure into an institutional credit-distribution and asset-management product rather than a pure payments or trading rail The credit layer stableco

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