Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Diamond Standard aims to make diamonds a tradable commodity

Friday, May 10, 2019

Bailey McCann, Opalesque New York:

What if you could trade in physical diamond bars the way you trade gold or other precious metals? Diamond Standard, a new company from former quant trader Cormac Kinney, has created the first diamond bar and diamond bar exchange in an effort to add diamonds to commodities portfolios. Opalesque sat down with Kinney during the SALT Conference currently underway in Las Vegas.

Diamond Standard has created and issues diamond coins and bars made up of diamonds of various quality that add up to a fixed geological weight. The diamonds are fully verified and traceable, and the coins and bars also include an encrypted blockchain token which provides tracking for each individual coin or bar. "We've created a fully trustless system, wherein each component can be independently verified and trading is managed over a fully transparent exchange," Kinney explains.

The bars are already approved for use by commodity ETFs, where they will join other precious metals and commodity assets. A futures market is forthcoming as soon as the spot market is fully available for traders.

Importantly, the bars only include naturally harvested diamonds - not the lab grown variety. Kinney explains that naturally occurring diamonds have a finite supply and a specific geological density. The infrastructure of the diamond market also tracks them, verifies them, and assigns a quality level. The infrastructure of the diamond market is what allows diamonds to ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1