The "Diamond Standard" for the Regulated Diamond Commodity is Set, Like 0.999 for Gold

Rhea-AI Summary

Diamond Standard Co. has established the "Diamond Standard," the first-ever public index for gemological content in diamonds, akin to the 0.999 standard for gold. The index's creation was funded by a successful $25 million public commodity offering, enabling the acquisition of a statistically significant sample of diamonds. This innovation allows diamonds to be treated as a regulated commodity, enhancing market transparency. Future offerings of Diamond Standard Coins will adhere to this index, storing ownership via blockchain tokens, with futures approved for listing on MGEX and an ETF filing under the ticker DIAM.

Positive

• Establishment of the 'Diamond Standard' allows diamonds to be treated as a regulated commodity.
• Successful funding of $25 million through an oversubscribed public commodity offering supports market entry.
• Increased transparency with a public index for diamond characteristic metrics.

Negative

• None.

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.

The "Diamond Standard" for the Regulated Diamond Commodity is Set, Like 0.999 for Gold.

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 $25 million initial public commodity offering, Diamond Standard made millions of bids to purchase tens of thousands of natural diamonds, within the range of 0.18 to 0.75 carats.

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 $1.2 trillion – more than all the world's silver and platinum combined. A breakthrough hard asset that can be transacted as a blockchain token, the diamond commodity provides diversification, potential inflation protection, and a new store of wealth for institutional and individual investors, while bringing transparency and efficiency to the diamond supply chain.  

Media Inquiries Monika Ploc Head of Communications monika@diamondstandard.co

Alex Bae Account Manager KCD PR abae@kcdpr.com

Institutional Sales Chris Dessi      hello@diamondstandard.co 1-833-777-DIAM

 

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SOURCE Diamond Standard

FAQ

What is the Diamond Standard and how does it relate to diamonds?

The Diamond Standard is a public index for gemological content in diamonds, establishing standards for diamond characteristics in commodities.

How did Diamond Standard Co. establish the Diamond Standard?

Diamond Standard Co. established the Diamond Standard through a $25 million initial public commodity offering to collect and evaluate a large sample of diamonds.

What is the significance of the Diamond Standard Coins?

Diamond Standard Coins are regulated commodities backed by diamond characteristics, with ownership verified through blockchain technology.

What regulatory approvals are needed for Diamond Standard's ETF listing under the ticker DIAM?

The ETF listing under the ticker DIAM requires regulatory approvals from the CFTC and SEC.

How can investors purchase Diamond Standard Coins?

Investors can learn more or place orders for Diamond Standard Coins at diamondstandard.co.