I have a project originating on 16 mm , telecined to DigiBeta, then captured using Blackmagic 10 bit uncompressed codec in FCP.
There is a lot of grain in this footage which I am trying to minimize. How do I achieve this degrain process? All tips are welcome.

There’s not much you can do in Color I’m afraid.
The best plugin is Furnace DeGrain for Shake, Nuke or Fusion.
You can download a demo here: The Foundry
It’s expensive to buy but there’s an option to rent the plugin if you just need for a few days.

They also have FurnaceCore for FCP which includes a DeNoise plugin.

Furnace Core is available in FCP. AE has a degrain filter which you can use.

Amazing, have you found that DeNoise works better than DeGrain. in all my tests this seems to be the case. Interesting.

Neat Video produces quite remarkable results at a fraction of the price of competing tools. Available for most software (After Effects, FCP, etc. though not Color). Not affiliated with them, just a long-time user.

http://neatvideo.com/