Coinbase Asset Management has unveiled its new digital credit strategy, CUSHY, which introduces a tokenized shareclass mechanism to integrate traditional credit markets with blockchain finance. The strategy focuses on on-chain public credit assets, structured private credit for digital-native and traditional borrowers, and yield sources combining tokenization with protocol incentives. Built on Superstate’s FundOS platform, CUSHY allows for on-chain representation of fund shares and 24/7 trading across networks like Ethereum, Solana, and Base.