![](https://kidit.xyz/wp-content/uploads/2023/12/Coinbase-COIN-Debuts-Digital-First-Capital-Platform-Project-Diamond-Built-on.png)
“Tokenization is an important first step, but the natural conclusion is a transition to digitally native assets,” Shaun Martinak, head of infrastructure development, Coinbase Asset Management, said in an email. “Instead of tokenizing off-chain assets, this digitally-native debt instrument was created and matured fully on-chain, with an automated lifecycle that takes full advantage of next-generation infrastructure.”