There might be a new way for institutions to get onto the blockchain.
What’s happening:
- Coinbase (NASDAQ: COIN) has unveiled a new smart contract powered platform for institutions called Project Diamond
- Project Diamond aims to help accelerate institutions being able to distribute and manage financial assets directly onchain
Why it matters:
- Enabling institutions to issue digital assets directly onto the blockchain has been a long awaited moment in crypto adoption
Going deeper:
- Coinbase and Coinbase Asset Management have co-developed Project Diamond which leverages Base as their blockchain infrastructure
- The first ever digital debt instrument has been distributed onto Project Diamond as validation of the underlying technology for regulators to be able to observe
By the numbers:
- Only 0.25% of all financial assets globally are represented on the blockchain
