Coinbase has announced the strategic integration of Chainlink's infrastructure into its Project Diamond platform to enhance tokenized asset management for institutional users.
Project Diamond: A New Era for Institutional Users
Project Diamond is Coinbase's digital platform exclusively designed for global institutional clients. It offers secure solutions for managing tokenized assets across various blockchain ecosystems. Initially, the platform will be available to registered users outside the US and will operate under the supervision of FSRA ADGM.
Enhancing Data Security and Compliance with Chainlink
A key component of the collaboration is Chainlink's capability to provide verifiable and secure data, which is crucial for compliance with financial industry regulations. With institutional-grade solutions like AML, KYC, and market prices, Chainlink assists Project Diamond in meeting required compliance standards.
Chainlink's Expansion in the MENA Region
The partnership has positively impacted Chainlink’s growth in the MENA region, where it recently opened an office in Abu Dhabi. This move is part of Chainlink's strategy to deepen engagement with the region's financial institutions and foster the adoption of on-chain financial solutions.
The integration of Chainlink into Coinbase's Project Diamond marks a significant step in enhancing tokenized asset management and accessibility for institutional investors across various regions.
