Coinbase announced a strategic integration with Chainlink within its Project Diamond platform to enhance tokenized asset management.
Project Diamond: A New Era for Institutional Investors
Project Diamond is Coinbase’s digital asset platform designed for global institutional clients. It provides secure solutions for managing assets tokenized across different blockchains. Initially, it will be available to registered institutional users outside the U.S., utilizing Coinbase Prime, Onchain Wallet, and USDC integrated with the Base layer-2 blockchain.
Enhancing Security and Compliance with Chainlink
A key element of the integration is Chainlink's capability to provide verifiable and secure data essential for compliance in the financial sector. The integration will also enhance transparency regarding the collateralization of tokenized assets, making them more appealing to institutional investors.
Chainlink Expands Its Presence in the MENA Region
In parallel with the integration, Chainlink announced the opening of an office in Abu Dhabi. This expansion is part of Chainlink’s strategy to increase engagement with financial institutions in the MENA region and promote the adoption of blockchain financial solutions.
The integration of Chainlink's technology into Coinbase's Project Diamond strengthens their alliance and supports the institutional adoption of tokenized assets globally.
