The Israel Diamond Exchange is the largest Diamond Exchange in the world. It has signed an agreement with start-up CARATS.IO to launch a digital currency backed by diamonds, in a bid to turn the stones into a financial instrument. The new currency will be based on diamonds purchased and held at the Israel Diamond Exchange. The cryptocurrency, to be called Carat, is expected to hit the market around May, and will be used by investors and the general public. A separate one, called Cut, is being launched for use between dealers. Israeli exports of rough and polished diamonds amounted to some $7 billion in 2017.
The tour will Include
- Eli Avidar, Israel Diamond Exchange Managing Director
- Nadav Perl, Business Developmer at Carats.io
- Boaz Moldawsky, Chairman of the Israel Diamond Institute and Head of the Innovation Center
- Tour of the Diamond Exchange trading floor.
