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CUSHY offers tokenized shares with on-chain transparency, running on Superstate's FundOS.
Coinbase cites $33T stablecoin volume in 2025 as it pushes to be an "everything exchange."
Coinbase Global's (COIN - Free Report) Asset Management announced the launch of a tokenized credit fund - Coinbase Stablecoin Credit Strategy. Coinbase launched CUSHY – a digital credit strategy – designed to bridge the gap between traditional credit markets and the growing digital asset ecosystem.
This strategic step seems time-opportune. COIN is set to capitalize on the scale of on-chain liquidity. Stablecoin transaction volumes surpassed $33 trillion in 2025, signaling that blockchain rails are becoming a primary financial settlement layer. As credit markets gradually migrate on-chain, CUSHY aims to capture yield premiums generated by this transition.
CUSHY lets investors buy tokenized shares with transparency and on-chain use. The service runs on FundOS, Superstate’s new turnkey platform for asset managers to tokenize funds. By linking traditional financial assets with crypto capital markets, Superstate broadens access, enhances liquidity and supports capital formation via on-chain listings and tokenized products.
This move also points to Coinbase addressing a clear institutional gap. It has always focused on bringing crypto and traditional banking closer. These developments align with Coinbase’s broader ambition to become the industry’s premier “everything exchange.” Through a combination of new product launches, market expansion and both organic and inorganic growth initiatives, the company continues to accelerate trading activity and diversify revenue streams, further solidifying its role as a comprehensive global trading platform.
What About Its Peers?
Robinhood Markets (HOOD - Free Report) stays focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally. Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization and retention, while stronger tools attract both retail and advanced traders.
Interactive Brokers (IBKR - Free Report) continues to explore growth opportunities in the emerging markets of Taiwan, Mexico and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Interactive Brokers has been undertaking several measures to enhance its global presence.
COIN’s Price Performance
Shares of COIN have lost 10.2% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive Valuation
COIN trades at a price-to-earnings value ratio of 65.55, significantly above the industry average of 9.92. It carries a Value Score of F.
Image Source: Zacks Investment Research
Estimate Movement for COIN
The Zacks Consensus Estimate for COIN’s first-quarter 2026 and second-quarter 2026 earnings per share (EPS) has moved south in the past 30 days. The same holds true for the full-year 2026 and 2027 EPS estimates.
Image Source: Zacks Investment Research
The consensus estimate for COIN’s 2026 revenues and earnings indicates year-over-year decreases. Nonetheless, the consensus estimate for 2027 revenues and earnings indicates an increase.
COIN stock currently carries a Zacks Rank #3 (Hold).
View the Zacks #1 Rank List
Image: Shutterstock
Coinbase Bets on On-Chain Credit With New Tokenized Fund
Key Takeaways
Coinbase Global's (COIN - Free Report) Asset Management announced the launch of a tokenized credit fund - Coinbase Stablecoin Credit Strategy. Coinbase launched CUSHY – a digital credit strategy – designed to bridge the gap between traditional credit markets and the growing digital asset ecosystem.
This strategic step seems time-opportune. COIN is set to capitalize on the scale of on-chain liquidity. Stablecoin transaction volumes surpassed $33 trillion in 2025, signaling that blockchain rails are becoming a primary financial settlement layer. As credit markets gradually migrate on-chain, CUSHY aims to capture yield premiums generated by this transition.
CUSHY lets investors buy tokenized shares with transparency and on-chain use. The service runs on FundOS, Superstate’s new turnkey platform for asset managers to tokenize funds. By linking traditional financial assets with crypto capital markets, Superstate broadens access, enhances liquidity and supports capital formation via on-chain listings and tokenized products.
This move also points to Coinbase addressing a clear institutional gap. It has always focused on bringing crypto and traditional banking closer.
These developments align with Coinbase’s broader ambition to become the industry’s premier “everything exchange.” Through a combination of new product launches, market expansion and both organic and inorganic growth initiatives, the company continues to accelerate trading activity and diversify revenue streams, further solidifying its role as a comprehensive global trading platform.
What About Its Peers?
Robinhood Markets (HOOD - Free Report) stays focused on accelerating growth through rapid product innovation and global expansion. Robinhood has been engaging in opportunistic acquisitions to deepen its footprint and expand its product reach within the United States and globally. Robinhood also noted that AI features and fast rollouts are increasing engagement, premium monetization and retention, while stronger tools attract both retail and advanced traders.
Interactive Brokers (IBKR - Free Report) continues to explore growth opportunities in the emerging markets of Taiwan, Mexico and India. Given the rapid growth of its European business, Interactive Brokers has substantially expanded its operations there. Interactive Brokers has been undertaking several measures to enhance its global presence.
COIN’s Price Performance
Shares of COIN have lost 10.2% in the year-to-date period, underperforming the industry.
Image Source: Zacks Investment Research
COIN’s Expensive Valuation
COIN trades at a price-to-earnings value ratio of 65.55, significantly above the industry average of 9.92. It carries a Value Score of F.
Image Source: Zacks Investment Research
Estimate Movement for COIN
The Zacks Consensus Estimate for COIN’s first-quarter 2026 and second-quarter 2026 earnings per share (EPS) has moved south in the past 30 days. The same holds true for the full-year 2026 and 2027 EPS estimates.
Image Source: Zacks Investment Research
The consensus estimate for COIN’s 2026 revenues and earnings indicates year-over-year decreases. Nonetheless, the consensus estimate for 2027 revenues and earnings indicates an increase.
COIN stock currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.