PANews reported on May 1st that, according to The Block, Coinbase has partnered with Superstate to launch the stablecoin lending fund CUSHY, providing institutional investors with exposure to lending strategies within the stablecoin ecosystem. CUSHY, expected to launch in the second quarter, is the first external fund issued using Superstate's FundOS platform and is managed by Northern Trust Hedge Fund Services. The fund generates returns through lending stablecoins and private lending opportunities, and its tokenized shares can be used as collateral and transferred in compliant digital venues. The President of Coinbase Asset Management stated that the fund combines the efficiency of digital tracks with the institutional rigor of traditional lending. Superstate has previously used FundOS to issue the USTB and USCC fund strategies, managing over $1 billion in assets.