The largest American crypto exchange Coinbase announced the launch of a platform based on Project Diamond smart contracts, which should allow client companies to create, manage, buy and sell digital assets on the network.

The subsidiary Coinbase Asset Management said that the work of Project Diamond is organized through a combination of the use of the Coinbase Prime depository, the Coinbase Web3 wallet and the native stablecoin USDC in the Base network.

“The platform will allow users to create, manage, buy and sell US dollar-denominated debt digital assets within a single application and with near-instant settlement speeds. Currently, almost 0.25% of all global financial assets are represented in the blockchain infrastructure, and we are confident in the significant potential and demand for the new smart contract platform,” Coinbase representatives explained.

Initially, access to the Project Diamond platform will be limited to institutional users registered outside the United States.

Copper, which provides digital asset custody services to clients in the United Arab Emirates, previously announced the launch of the Copper Securities brokerage platform, which will allow client companies to trade tokenized securities.