NEW YORK, July 29, 2021 /PRNewswire/ -- Diamond
Standard Co., the developer of the regulator-approved diamond
commodity, announced today a follow-on offering of the Diamond
Standard Coin. The offering is capped at $50
million, across five series of $10
million each. The initial series is priced at $5,750 per Coin, and is available to investors at
diamondstandard.co. Subsequent series will follow immediately,
and be priced by then-current diamond values.
The offering is capped at $50
million, across five series of $10
million each. The initial series is priced at $5,750.
Every Diamond Standard Coin is equal, regardless of when it is
produced. The IPO of the Coin in March
2021 was priced at $5,000.
"Since the Coin IPO, global diamond prices have risen, in part due
to investor demand for the commodity," said Cormac Kinney, Founder and CEO of Diamond
Standard Co.
Like the 0.999 standard for gold bars, the Diamond Standard is a
public index of diamond characteristics, such as carat weight,
color and clarity, that must be contained in every Diamond Standard
Coin. The index was established by spending the proceeds of the IPO
to purchase a statistical sample of natural diamonds.
"After the successful establishment of the Diamond Standard, we
are pleased to offer the first series of Coins that conform to the
standard set by the IPO," continued Kinney.
This offering will increase the float before the diamond
commodity is listed on exchanges. The Coins can be traded using a
blockchain token stored on a wireless chip inside each Coin. The
token holder owns the Coin, while it is stored by a custodian for
delivery on demand. Once exchange-trading begins, Diamond Standard
Co. does not set the price of the commodity -as with gold, the
market does.
In addition to preparing for spot trading on digital exchanges,
Diamond Standard commodity futures are approved for listing on MGEX
via CME Globex®, and an ETF has applied to list on the
NYSE under the ticker DIAM, which offerings are subject to
regulatory approvals by the CFTC and SEC respectively.
New custody and logistics partnerships with Brinks and
Malca Amit
Diamond Standard Co. is proud to partner with Brinks, a global
leader in security, custody and transportation services. Brinks is
approved by the CME to custody commodities for futures contracts,
and is upgrading a facility to store up to $350 million worth of Diamond Standard Coins. Over time, this
relationship is expected to provide investors and exchanges with
custody options at Brinks facilities worldwide.
Diamond Standard Co. also developed a logistics partnership with
Malca Amit, a specialist in secure
storage and shipping of precious metals, diamonds and art, to
manage the global export and delivery of diamonds to Diamond
Standard assembly facilities, operated by IGI gemological
laboratories.
Individual and institutional investors are invited to learn more
or place an order at www.diamondstandard.co
About Diamond Standard
Diamond Standard Co. 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 Co.