Coinbase to Bring TradFi Assets On-Chain With New Platform Built on Base Under Abu Dhabi Regulator's Oversight
Summary
Coinbase Asset Management has launched Project Diamond, a platform that allows institutional investors to issue and trade digitally native debt instruments using Base, Coinbase's Ethereum scaling network. The platform has received approval from the Financial Services Regulated Activity of Abu Dhabi and will enter its sandbox. Project Diamond aims to bring traditional financial assets to the blockchain and capitalize on the benefits of tokenization and next-generation infrastructure. The launch comes amid competition between banks and crypto companies to tokenize real-world assets, with the market predicted to reach $10 trillion by the end of the decade.
