Chainlink, a prominent blockchain oracle network, has integrated its technology with Coinbase’s Project Diamond, an institutional asset management platform. This partnership takes advantage of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which allows for smooth communication and data transfer between public and private blockchains. As a result, the platform may provide improved lifecycle management for newly tokenized assets, resulting in increased efficiency and security for institutional customers.
The Abu Dhabi Global Market (ADGM) regulates Project Diamond, which operates under the trade name Onchain Marketplace and aims to increase institutional adoption of digital assets. The integration of Chainlink will allow the platform to provide a better level of data interoperability and connection, assuring compliant and secure asset management solutions.
This agreement also broadens Chainlink’s reach throughout the Middle East and North Africa (MENA) area. The company recently announced its entry into Abu Dhabi, with the goal of capitalizing on the booming blockchain sector and fostering regional innovation. With forecasts that the tokenized asset market could be worth $10 trillion by 2030, Chainlink is positioning itself as a vital player in the future of digital finance.
Chainlink and Coinbase have formed a cooperation to address the growing demand for secure, transparent, and efficient solutions in the tokenized asset arena, therefore increasing global institutional use of blockchain technology.
