Diamonds Arrive on a Blockchain With New Tokenized Fund on Avalanche Network
Diamonds are now accessible on blockchain for investors, thanks to a token created by crypto securities trading platform Oasis Pro. The token represents a stake in the Diamond Standard Fund, a product sponsored by Diamond Standard Commodities and Horizon Kinetics. This move makes the approximately $1.2 trillion natural resource more conveniently tradable. The tokenization of real-world assets such as gold, credit, and bonds has gained popularity over the past year, with traditional finance giants like Franklin Templeton and HSBC participating in related projects. The Diamond Standard Fund is structured to be accessible to pension funds and endowments, and is eligible for U.S. retirement accounts known as IRAs. The token uses the ERC-3643 token standard, which allows the issuance, management, and transfer of permissioned tokens for tokenized assets.
