Demex Daily #302: Chainlink Integrates with Coinbase's Project Diamond for Institutional Digital Asset Adoption

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Chainlink has integrated with Coinbase's Project Diamond, a platform for global institutional digital assets, to provide data and cross-chain interoperability. This integration enables the management and tokenization of assets on the platform using Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The collaboration aims to drive institutional adoption of digital assets, particularly in the MENA region. Chainlink also plans expansion in the region and has partnered with SWIFT to connect legacy systems with blockchain.

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Ripple has secured approval from the New York State Department of Financial Services (NYDFS) to launch its RLUSD stablecoin, with plans to go live soon. The launch was delayed from December 4 due to unforeseen developments. As the stablecoin market becomes increasingly competitive, RLUSD's success may depend on offering attractive returns to users, as seen with competitors like Ethena's USDe, which has gained traction through incentives.

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