Coinbase’s subsidiary, Coinbase Asset Management, has revealed that Project Diamond will leverage the Coinbase Prime depository, Coinbase Web3 wallet, and the native stablecoin USDC on the Base network. By combining these tools, the platform will provide users with the ability to create, manage, buy, and sell US dollar-denominated debt digital assets all within one application, with near-instant settlement speeds.
According to Coinbase representatives, the blockchain infrastructure currently holds almost 0.25% of all global financial assets, affirming the immense potential and demand for their new smart contract platform.
Initially, access to the Project Diamond platform will be limited to institutional users registered outside the United States.
Another player in the industry, Copper, has also made an important announcement. The company, which provides digital asset custody services in the United Arab Emirates, has launched the Copper Securities brokerage platform. This platform will enable client companies to trade tokenized securities.