CEDEX Blockchain Commodity Exchange Lists $50 Million Worth of Diamonds at Start of Trading
CEDEX is a new diamond exchange that has just opened. The platform states that it allows investors to easily and securely trade in diamonds while enabling diamond holders to effortlessly liquidate their assets.” The platform operates upon innovative tools and blockchain technology that is meant to help promote diamonds as assets that can be traded and with the transparency that traders seek.
The platform functions by connecting dealers or private diamond holders with those who are looking to invest and to diversify their holdings. It offers users investment options that are easy to understand so that they can purchase or sell diamonds with ease and without industry expertise.
The platform’s co-founder and CEO stated,
“The vast inventory available combined with CEDEX unique technology opens up for traditional and digital markets the opportunity to develop financial instruments that will initially create the liquidity needed to jumpstart our vision – transforming diamonds into a new asset class.”
Concerning its launch, the platform not only noted it on its website, but it also issued a press release through Finance Magnates, in which it stated that it is preparing to launch an ETF that is diamond-baked and exchange-traded. The ETF is currently in its developmental stage and is poised to be “generic.” With the ETF, investors can trade diamonds as a financial asset class. In addition, the ETF can be offered by banks and other financial institutions to interested clients.
Another unique quality about the platform is that it's diamond listings are unique – various stones of sizes and values can be traded and used to diversify one’s portfolio. Levi stated,
“Bridging the gap between existing financial markets and the diamond industry will fuel this untapped market from a $90 billion industry to an estimated $300-$400 billion.”