Tradomatics to Underwrite and be a Liquidity Provider for Carats.io CARAT Token
It is Deal for Carat.io and Tradomatics
Carat.io has signed an agreement with Tradomatics a financial technology provider. Tradomatics will be the financial liquid provider for Carat.io tokens. Carat.io is a new development in the blockchain which is in Israel. This is a crypto-currency that is diamond backed, Carats.io was first launched in collaboration with the Israel Diamond Exchange. However, it later changed to IDEX since Israel’s diamond body did not license it to trade diamonds
Details of the Agreement
The deal has stipulated terms that will seek to grow the new startup cryptocurrency. Tradomatics will act as a liquid provider meaning that it will provide a platform for people to buy and sell the tokens. The Financial technology provider will hold an inventory for the tokens and also provide the price for the selling and buying of the tokens.
What This Means for Cryptocurrency Customers
This agreement is a relief for customers who have to deal with volatile cryptocurrencies. Tradomatics comes to ensure stability and value of Carat.io tokens is maintained. This tokens will be non-volatile which will be beneficial for those in the diamond industry. Carats.io President Eli Avidar is optimistic that Tradomatics will guarantee the stability of the currency from its proven record as a performing market maker and liquid provider for the traditional financial market. The Carats.io will lead the journey towards a financial digital diamond industry.
Shmuel Tal, the CEO Tradomatics, is confident that working with Carats.io will enable stability of value in the diamond market. It will reduce the risks that traders in this sector face. The president confirmed that the company has a vast experience in providing liquidity for security and this might be the solution to volatility in the diamond industry.
This agreement appears to be a rescue for diamond traders who have suffered from the instability in this market. The Carat.io seems to be taking shape and will be leading the digital currencies.
Carats.io in Southeast Asia
Recently Carats.io was listed on its first exchange on Hotbit of Taiwan. The company has been receiving a lot of interest from Southeast Asia, and that is why the management of Carats.io choose this exchange.
Carats.io usually, purchase the diamonds from the Diamond Financial Index which comes second in the world’s diamond trading platform. The primary goal of this cryptocurrency is to revolutionize how trading in the diamond industry happens. That is why it has taken the first step to introduce liquidity with a financial technology provider. This is a way of representing actual diamonds regarding cryptocurrency. This is far most the safest and reliable way for diamond traders to do business. In May 2018 the company managed to raise a total of $1.6million in private funding.
This is an agreement of a lifetime, and it hopes to be the beginning of a change in the diamond trading industry.