Standardized 4.5-carat Diamond Coins to Lure Investors
February 15, 21
(IDEX Online) - A fintech startup will tomorrow launch standardized diamond "coins" for investors in a move which could "reinvent the supply chain".
Diamond Standard, based in Bermuda, will offer the first 5,000 diamond standard coins, each containing "a set of certified natural diamonds with identical geological scarcity" weighing 4.5 carats and to the exact value of $5,000.
Each coin (pictured) also stores a wireless blockchain token that allows it to be traded on leading digital exchanges.
The initial public offering takes place tomorrow (16 February).
The coins will be traded digitally as a token on the INX cryptocurrency trading platform.
By standardizing diamond values Diamond Standard, created by fintech entrepreneur Cormac Kinney, aims to effectively turn them into a mainstream investable asset.
Diamond Standard says: "As the first diamond market maker, we buy statistical samples of all qualities of diamonds, via transparent bids on a regulated exchange.
"The exchange consolidates liquidity, establishes transparency, reduces friction, and provides reliable and efficient settlement. In short, we are reinventing the diamond supply chain."