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Coinbase has announced the adoption of the Chainlink standard for Project Diamond, a digital assets platform for global institutions. The Project’s featured user will be Peregrine, a subsidiary of PSG Digital located in Abu Dhabi.
This information was announced through a press release shared with TinTucBitcoin.
Coinbase Joins Chainlink CCIP
Coinbase, one of the world’s leading exchanges, claims that Chainlink CCIP is the gold standard for blockchain interoperability. The company’s Diamond project will compete in a completely different market environment. In the statement, Coinbase appeared very confident in its partner.
“Chainlink is an infrastructure that enables asset issuers, banks and financial institutions to create tokenized and regulatory compliant asset solutions. By integrating the Chainlink standard, we are paving the way for widespread adoption of digital assets within institutions,” Marcel Kasumovich, VP of Investments at Coinbase Asset Management told TinTucBitcoin.
Chainlink, a major cryptocurrency software company, has recently partnered with many important institutional clients. For example, they teamed up to streamline Swift transactions in early November.
The company also worked to launch an EU-compliant blockchain financial market infrastructure in December, even collaborating on a cross-border trade platform with the Central Bank of Brazil.
In other words, the company appears capable of meeting Project Diamond’s requirements. Coinbase asserts that the platform will serve institutional clients registered outside the US and that direct integration with Chainlink CCIP will ease security and compliance.
The press report said that Peregrine, a “featured user” and affiliate of PSG Digital in the Abu Dhabi Global Market (ADGM), is “excited to bring institutional-grade real assets” to the Project. Diamond. Abu Dhabi has recently developed into an electronic currency hub, as ADGM approved Tether’s USDT as an Approved Virtual Asset today.
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