Diamond Standard has announced that its first batch of coins is now sold, with a 50% oversubscription to the commodity’s first release.
Diamond Standard Coins claim to be the world’s first and only regulator-approved diamond commodity, a coin that contains a public sample of natural diamonds and is intended for investors.
The initial offering of a total of only 5,000 coins were set at a price of $5,000 (£3,542) each, and as well as containing actual diamonds also house a computer chip for electronic identification.
The proceeds are used to purchase a statistical sample of natural diamonds through the Diamond Standard Exchange – the world’s first such exchange with a market maker and global settlement.
Diamond Standard Coins can then be traded on electronic markets as a liquid commodity, just like gold, marking the first time investors can access the $1.2 trillion (£850 billion) asset class, the company said.
“Diamond Standard’s mission is to benefit investors, by establishing diamonds, through innovation and standard-setting, as a liquid hard asset, like gold,” said Cormac Kinney, founder and CEO of Diamond Standard.
He continued: “Diamonds are finally a deliverable, fungible, and easily traded commodity, suitable for any investor portfolio.”
Read more about the Diamond Standard Coin below: