Coinbase launches smart contract platform Project Diamond for overseas institutional clients.

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Coinbase's New Digital Asset Management Platform: Project Diamond

Coinbase, in collaboration with Coinbase Asset Management, has launched an innovative initiative called "Project Diamond". This platform, driven by smart contracts, allows institutions to efficiently create, manage, buy, and sell digital native assets directly on the blockchain.

Project Diamond Disrupts Digital Asset Management

The primary use case for Project Diamond targets institutional users registered outside the United States. The platform operates by integrating various Coinbase services such as Coinbase Prime custody, Coinbase's Web3 wallet, USDC stablecoin, and Base, an Ethereum Layer 2 blockchain developed by Coinbase.

Project Diamond Equipped with Digital Bond Tools, Enters Financial Sandbox

Project Diamond is equipped with digital debt instruments, providing a proof of concept for the Abu Dhabi Global Market Financial Services Regulatory Authority and preparing for participation in the Abu Dhabi Global Market RegLab, an innovative financial technology regulatory sandbox.

Base Aims to Become a Bridge for Traditional Assets to Go On-Chain

Coinbase claims that less than 0.25% of global assets are represented on the blockchain, indicating significant potential. Project Diamond aims to build this bridge, with its initial demonstration showcasing a digital discounted bill of exchange transacted in USDC, demonstrating near-instant settlement speed on the Base platform, highlighting the transformative potential of the project in blockchain asset management.

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