Greengage & Co. Limited, a digital finance firm, has
completed the first external debt instrument transaction on the Coinbase
Diamond tokenization platform, operating under the regulatory oversight of the
Abu Dhabi Global Market (ADGM).

Project Diamond Advances Blockchain Integration

The transaction represents a key development for Project
Diamond, which seeks to integrate blockchain technology with asset management.
Project Diamond leverages smart contracts to improve transparency and
efficiency in financial systems.

„The successful completion of this transaction is a
testament to Coinbase’s mission of creating an open financial system,” Marcel
Kasumovich, Deputy CIO at Coinbase Asset Management, commented.

“This collaboration with Greengage under the purview of ADGM
allows us to innovate responsibly, ensuring that technological advancements
align with regulatory compliance and investor protection.”

Deal Executed Under ADGM Framework

According to Greengage’s press release, the deal was
executed under ADGM’s regulatory framework, which balances innovation with
strict standards. ADGM supports financial technologies aimed at sustainable and
inclusive solutions.

„Our collaboration with Coinbase on this transaction
exemplifies Greengage’s commitment to driving sustainability in the digital
finance sector,” said Sean Kiernan, CEO at Greengage & Co.

“By combining innovative blockchain solutions with a clear
focus on SME lending, we are proud to contribute to a more transparent and
efficient financial ecosystem.”

Finance Magnates previously reported that Coinbase
is partnering with Greengage, a London-based financial services provider
for SMEs, to originate SME debt using the Coinbase Diamond protocol, aiming to
offer more efficient and transparent access to capital through blockchain
technology.

ADGM Grants License to Laser Digital and eToro

Meanwhile, Laser Digital, the digital asset division of
global financial services group Nomura, has
obtained a Financial Services Permission (FSP) from the Financial Services
Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), as reported by Finance Magnates.

eToro,
a retail and social trading platform, has also received approval from ADGM
to operate as a broker dealing in securities, derivatives, and crypto assets in
the UAE.

This article was written by Tareq Sikder at www.financemagnates.com.