INX Limited, the self-described “blockchain-based platform for trading digital securities and cryptocurrencies,” has revealed that it signed a letter of intent with Diamond Standard, the “creator of the world’s first and only regulated diamond commodity,” to list its asset, the Diamond Standard Coin, according to a press release from the group.
The release describes this asset as the following:
“This diamond commodity makes a $1.2 trillion hard asset available to institutional investors for the first time. Diamond Standard recently announced its plan to launch an ETF on the NYSE under the ticker DIAM, and an agreement to list futures on the CME Globex via the MGEX.”
Speaking on the matter is the CMO of INX, Douglas Borthwick, who said:
“Our proprietary trading technology was developed with the goal of transforming the future of finance with the trading of unique assets. The listing of the Diamond Standard Coin on the INX exchange pushes that vision forward, and we’re thrilled that both institutional and retail investors can now invest in the first fungible diamond commodity digitally.”
Also sharing some thoughts is Cormac Kinney, the Founder and CEO of Diamond Standard, who said:
“Diamond Standard developed this regulated diamond commodity in order to unlock an uncorrelated $1.2 trillion asset class for investors. We are delighted to list on the INX platform, to provide a secure, next generation venue for investors to trade their diamond commodities.”
Remember, all trading carries risk. Past performance is no guarantee of future results.