Titan FX MD Martin St-Hilaire Becomes a VFSC Member

Israel Diamond Exchange to Launch Diamond-Backed Cryptocurrency

by Avi Mizrahi
  • The world's largest diamond exchange hopes that cryptocurrency can turn diamonds into a viable financial instrument.
Israel Diamond Exchange to Launch Diamond-Backed Cryptocurrency
Diamonds are about to get digitalized
Join our Crypto Telegram channel

The Israel Diamond Exchange (IDE) has announced the signing of an agreement with CARATS.IO to launch a digital currency backed by diamonds named CDC (CARATS.IO Diamond Currency).

Learn how to buy Bitcoin and Ethereum safely with our simple guide!

The developers explain that the new cryptocurrency will be based solely on investments in diamonds purchased at the IDE. Trading will be based on an index that reflects activity within the Israeli Diamond Industry.

IDE President Yoram Dvash said, “For the past several years there have been many attempts to turn diamonds into a viable financial instrument, but none have succeeded. We believe in order to achieve this it is essential to bring in parties from outside the diamond world, as part of the Innovation Center which we have established in the Diamond Exchange. Bringing new investors to the diamond sector in Israel is important for the local industry and for the country. We intend to make use of the incredible expertise that Israel’s high tech industry offers.”

CARATS.IO stated: “The diamond industry can be an attractive investment channel for the many investors in digital currencies. This currency is unique as it will be backed by investments in diamonds, which have steadily appreciated over time. There is a large community of investors in digital currencies throughout the world. By backing this currency with diamonds we are significantly decreasing the speculative level of the investment. Our cooperation with the Israel Diamond Exchange is an important step in making this currency a reality.”

Incorporating about 2800 diamantaires, the IDE is considered the world's largest diamond exchange.

The Israel Diamond Exchange (IDE) has announced the signing of an agreement with CARATS.IO to launch a digital currency backed by diamonds named CDC (CARATS.IO Diamond Currency).

Learn how to buy Bitcoin and Ethereum safely with our simple guide!

The developers explain that the new cryptocurrency will be based solely on investments in diamonds purchased at the IDE. Trading will be based on an index that reflects activity within the Israeli Diamond Industry.

IDE President Yoram Dvash said, “For the past several years there have been many attempts to turn diamonds into a viable financial instrument, but none have succeeded. We believe in order to achieve this it is essential to bring in parties from outside the diamond world, as part of the Innovation Center which we have established in the Diamond Exchange. Bringing new investors to the diamond sector in Israel is important for the local industry and for the country. We intend to make use of the incredible expertise that Israel’s high tech industry offers.”

CARATS.IO stated: “The diamond industry can be an attractive investment channel for the many investors in digital currencies. This currency is unique as it will be backed by investments in diamonds, which have steadily appreciated over time. There is a large community of investors in digital currencies throughout the world. By backing this currency with diamonds we are significantly decreasing the speculative level of the investment. Our cooperation with the Israel Diamond Exchange is an important step in making this currency a reality.”

Incorporating about 2800 diamantaires, the IDE is considered the world's largest diamond exchange.

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}