Project Diamond, developed by Coinbase Asset Management, will allow institutional investors to issue and trade digitally native debt instruments using Base.
The platform combines Coinbase Prime’s custody services, the exchange’s Web3 crypto wallet, USDC and Layer 2 network Base to create a capital market. Additionally, Project Diamond received in-principle approval from the Financial Services Regulatory Activity (FSRA) of the Abu Dhabi Global Market (ADGM) and will enter the agency’s RegLab sandbox; and has now issued and distributed its first debt instrument (a A short-term discount note denominated in USDC). (CoinDesk)