Chainlink has integrated with Coinbase’s Project Diamond to enhance tokenized asset management in the Asia-Pacific region, while Crypto.com has joined forces with Deutsche Bank to provide corporate banking services across key markets like Singapore, Australia, and Hong Kong.
Chainlink Integrates with Coinbase’s Project Diamond, Advancing Tokenized Asset Management
Chainlink, the prominent blockchain oracle network, has announced its integration with Coinbase’s Project Diamond. This collaboration brings together Chainlink’s robust data and interoperability capabilities with Coinbase’s institutional-grade digital asset platform. The partnership is expected to revolutionize the management and functionality of tokenized assets, particularly for global institutions.
Project Diamond, regulated by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), operates under the trade name Onchain Marketplace. As a resident of the ADGM RegLab sandbox, the platform has been designed to support institutional adoption of digital assets while maintaining strict regulatory compliance. The integration with Chainlink marks a pivotal upgrade to its capabilities, enabling comprehensive lifecycle management of tokenized assets.
A key component of this integration is Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which will facilitate secure and seamless data flow between public and private blockchains as well as traditional financial systems. The protocol ensures a compliant and interoperable solution for institutions exploring blockchain-based tokenization.
Marcel Kasumovich, Deputy Chief Investment Officer at Coinbase Asset Management, emphasized the transformative potential of the integration, stating, “By integrating the Chainlink standard natively into the Project Diamond platform, powered by Coinbase's tech stack on Base, we're paving the way for widespread institutional adoption of digital assets.”
The integration has also brought Peregrine, a business unit of PSG Digital regulated by the ADGM, into the spotlight as a flagship user of the upgraded Project Diamond platform. This highlights the real-world applications of the collaboration, showcasing how financial institutions can leverage blockchain technology for secure and efficient tokenized asset management.
Chainlink’s Growing Footprint
This partnership aligns with Chainlink’s broader mission to expand its global presence and support the tokenized asset market, which the company predicts will grow to a staggering $10 trillion by 2030. Chainlink Labs, the primary developer of the network, recently established a dedicated entity in Abu Dhabi under the ADGM Registration Authority to drive expansion in the Middle East and North Africa (MENA) region.
Angie Walker, Chainlink Labs Global Head of Banking and Capital Markets and Senior Executive Officer for Chainlink Labs Abu Dhabi, expressed optimism about the region’s potential, “The MENA region has become a global destination for innovators from around the world and a hub for the adoption of onchain finance.”
Chainlink’s influence extends beyond Project Diamond. The company has forged a partnership with SWIFT, enabling users of the legacy messaging system to interact with blockchain technology, a move that could bridge the gap between traditional finance and decentralized systems. Additionally, Chainlink is a key participant in the Monetary Authority of Singapore’s Project Guardian, where it has developed technology to allow users to establish privacy settings for their data—further solidifying its role as a pioneer in blockchain innovation.
Launched in December 2023, Project Diamond exemplifies Coinbase’s push to create institutional-grade solutions in the digital asset space. However, it is worth noting that the platform is not available to users in the United States, emphasizing its focus on global markets. Chainlink’s CCIP, introduced in April, adds an essential layer of functionality, enabling cross-chain token transfers and smart contract messaging across multiple blockchain networks.
The integration of Chainlink’s oracle technology into Project Diamond sets a new standard for institutional blockchain adoption. With regulatory backing from ADGM and cutting-edge interoperability solutions, this collaboration signals a major step toward mainstream acceptance of tokenized assets and blockchain-powered finance.
As the blockchain ecosystem continues to mature, the collaboration between Chainlink and Coinbase’s Project Diamond is poised to become a blueprint for institutional adoption of tokenized assets. With predictions of exponential market growth and increasing regulatory clarity, the stage is set for blockchain technology to redefine the global financial landscape.
Chainlink’s growing network of partnerships, including its role in MENA and collaboration with SWIFT, reinforces its position as a cornerstone of blockchain interoperability. Meanwhile, Project Diamond’s robust regulatory foundation and advanced capabilities make it a critical player in the evolution of digital asset management.
Together, Chainlink and Coinbase are charting a course toward a more connected, tokenized future.
Crypto.com Partners with Deutsche Bank to Expand Corporate Banking Services in Asia-Pacific
Leading cryptocurrency exchange Crypto.com has announced a partnership with Deutsche Bank to provide corporate banking services. This strategic alliance will focus on key markets such as Singapore, Australia, and Hong Kong, with plans for future expansion into the United Kingdom and European countries.
The partnership will see Deutsche Bank, a global financial powerhouse, deliver a suite of services tailored for cryptocurrency firms. These services include digital asset custody, fiat-to-crypto exchange, and cross-border trading. By aligning with Deutsche Bank, Crypto.com aims to enhance its operational efficiency and provide robust banking solutions to its corporate clients.
Deutsche Bank’s foray into digital assets and its ability to bridge traditional finance (TradFi) with decentralized finance (DeFi) aligns seamlessly with Crypto.com’s vision. The partnership is expected to fortify Crypto.com’s banking infrastructure, ensuring compliance and scalability in an increasingly regulated environment.
Crypto.com’s partnership with Deutsche Bank builds upon the exchange’s aggressive expansion strategy in the Asia-Pacific region. Headquartered in Singapore, Crypto.com has been actively bolstering its regional footprint. In November, the exchange acquired Australian brokerage and trading company Fintek Securities. This acquisition enabled Crypto.com to offer regulated traditional financial products, further diversifying its portfolio.
In Hong Kong, Crypto.com holds a "deemed to be licensed" status with the Securities and Futures Commission (SFC). This designation reflects the SFC’s progressive stance on digital assets, as it prepares to issue licenses to at least 11 firms operating in the local market.
The Asia-Pacific region continues to exhibit strong growth in cryptocurrency adoption, with Singapore, Hong Kong, and the UAE leading the charge. According to a study by Henley & Partners, Singapore ranks as the top destination for crypto adoption globally, credited to its advanced banking system, significant investments in digital assets, and comprehensive regulatory framework.
While many traditional financial institutions are integrating digital asset services, Crypto.com is taking a unique approach by expanding into traditional finance. The exchange’s recently unveiled 2025 roadmap outlines plans to offer stocks, derivatives trading, banking services, and credit card solutions. These traditional offerings complement its existing crypto-focused services, creating a comprehensive ecosystem for its users.
In October, Crypto.com also acquired Watchdog Capital, a US-regulated broker-dealer. This acquisition positioned the exchange to offer stocks and equity options to eligible traders in the United States.
However, Crypto.com is not alone in its pursuit of hybrid financial models in the Asia-Pacific region. OKX, another prominent crypto exchange, has made strides in integrating traditional financial services. In November, OKX introduced fiat deposit and withdrawal capabilities for Singaporean customers after securing a local payment institution license. The company also strengthened its regulatory expertise by appointing a former regulator as the CEO of its Singapore subsidiary.
Driving Crypto Adoption in Asia-Pacific
The Asia-Pacific region remains a critical battleground for cryptocurrency exchanges due to its rapid adoption of digital assets. Singapore’s leadership in crypto adoption, coupled with Hong Kong’s regulatory advancements, shows the region’s significance. Partnerships like that of Crypto.com and Deutsche Bank are part of a growing trend of collaboration between crypto firms and traditional financial institutions, aiming to address regulatory challenges and foster trust among institutional and retail users.
As Crypto.com and Deutsche Bank deepen their partnership, the focus will likely shift to delivering seamless, compliant, and scalable solutions for the burgeoning crypto economy. The potential expansion into Europe and the UK represents an opportunity to replicate their success in Asia-Pacific on a global scale.
With its diversified strategy and a strong foothold in the region, Crypto.com is well-positioned to lead the charge in integrating traditional finance and blockchain technologies. This partnership signals not just a business collaboration but a step toward the broader acceptance of digital assets in mainstream financial systems.
