Carats.io, the cryptocurrency company partnering with the Israel Diamond Exchange, has begun presale of its public token, ‘CARAT’, several weeks before originally planned.
The earlier release date is said to be due to large worldwide demand and significant progress with regulatory agencies.
Carats.io offers what it says is the first-ever viable secondary market for diamond commerce, and combines the stability of diamonds with the liquidity of cryptocurrency.
In addition, ‘CARAT tokens’ will be 100% redeemable for real, certified diamonds, as the tokens are backed by real, certified diamonds. International accounting firm Ernst & Young is auditing the diamond backup ratio.
Presale buyers will enjoy various bonus and discount models, depending on the contribution stage.
Carats.io CEO Avishai Shoushan said: “Carats.io has tokenised the world’s most precious commodity – diamonds. We have allowed financial and crypto markets a first time exposure to the untouched diamonds market, trading diamond value in a safe, liquid and transparent way.
“The CARAT will be the world’s most trusted token. To emphasize this, we are offering complete liquidity, enabling full exchange of CARAT tokens for equally valued diamonds and cash equivalents.”
Israel Diamond Exchange president, Yoram Dvash, added: “By partnering with Carats.io we are taking the diamond industry to a new level, making diamonds a viable investment channel for a whole new market.
“This is vitally important for the diamond sector in Israel and the world over. We are proud to play a pivotal role in heralding the next era of diamond trading.”