The "Diamond Standard" for the Regulated Diamond Commodity is Set, Like 0.999 for Gold
NEW YORK, Aug. 19, 2021 /PRNewswire/ -- Diamond Standard Co., the developer of the only regulator-approved diamond commodity, announced today the successful establishment of the Diamond Standard itself -- the public index of gemological content inside the commodity.
Like the 0.999 standard for gold bars, the Diamond Standard is a permanent statistical index of diamond characteristics, such as carat weight, color and clarity, that must be contained in every Diamond Standard Coin. The index was determined by spending the proceeds of an initial public commodity offering, to force the price discovery of millions of diamonds, and to systematically purchase a large statistical sample.
"Finally, this underallocated trillion dollar natural resource is available as a commodity. By combining computer science with market-based price discovery, we've established the Diamond Standard," said Cormac Kinney, Founder & CEO.
To create the index, Diamond Standard formed an electronic exchange with the participation of over 100 leading diamond dealers. With the proceeds of its oversubscribed
In effect, the "yield curve" of diamonds was valued and purchased, as in the yield of the Earth. The acquired diamonds established a baseline measure of the carats, color and clarity that can be acquired per dollar spent. Whenever it produces future Diamond Standard Coins, the company must purchase another statistically valid sample of diamonds that match this index. The samples are always public, so anyone can verify that all diamond commodities are equivalent.
Inside each Diamond Standard Coin, a wireless encryption chip stores a blockchain token. The owner of the token is the legal owner of the Coin, and the token can be traded on digital asset exchanges -- just like a Bitcoin but with a physical asset behind it.
The offerings of Diamond Standard Coins are audited by Deloitte, and the blockchain token used to transact the Coin is issued under a license from the Bermuda Monetary Authority. Diamond Standard commodity futures are approved for listing on MGEX via CME Globex®, and an ETF has been filed to list on the NYSE under the ticker DIAM, which offerings are subject to regulatory approvals by the CFTC and SEC respectively.
Institutional and individual investors are welcome to learn more or place an order at diamondstandard.co
About Diamond Standard
Diamond Standard is the creator of the world's only regulated diamond commodity. By unlocking diamonds as a market-traded asset, Diamond Standard Co. helps investors to access a natural resource currently worth
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Media Inquiries Monika Ploc Head of Communications |
Alex Bae Account Manager KCD PR |
Institutional Sales Chris Dessi 1-833-777-DIAM |
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SOURCE Diamond Standard
