Coinbase Launches Platform to Tokenize TradFi Assets on Blockchain
• Coinbase launching new platform, Project Diamond, to bring traditional financial (TradFi) assets on-chain using Base layer-2 network • Platform approved by Abu Dhabi regulator FSRA to operate in regulatory sandbox • Already issued first on-chain, USDC-denominated debt instrument as demo for regulators • Part of growing race between banks and crypto firms to tokenise real-world assets on blockchain • Coinbase sees massive potential for efficiency gains by enabling institutional use of next-gen financial infrastructure