Coinbase and its asset management division, Coinbase Asset Management, have launched Project Diamond, a platform that enables institutional investors to create, buy, and sell digital assets. The platform, developed using Coinbase’s advanced technology stack and layer-2 blockchain, Base, aims to streamline operations and enhance efficiency in institutional capital market activities involving digital assets.
Project Diamond has already received preliminary approval from the Financial Services Regulated Activity (FSRA) of the Abu Dhabi Global Market (ADGM). This approval allows the platform to develop financial technology services within the RegLab, initially catering to registered institutional users outside the United States.
The platform’s main goal is to integrate seamlessly with traditional financial market frameworks, rather than replace them. It bridges the gap between digital and conventional investment strategies for regulated entities.
On November 10, Coinbase successfully issued, distributed, and matured the first digital debt instrument on Project Diamond. This demonstration showcased the platform’s capabilities to the Financial Services Regulatory Authority as they prepare to join the ADGM RegLab sandbox.
While only a small fraction of global assets are currently managed on blockchain platforms, Coinbase believes that Project Diamond is a significant step toward increasing institutional adoption and participation in the digital asset space.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Middle East |
| Countries | 🇺🇸 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | None |
| Companies | Abu Dhabi Global Market, Financial Services Regulatory Authority, Coinbase, Coinbase Asset Management, ADGM RegLab |
| Currencies | None |
| Securities | None |
