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Carats.io and IDEX sign MoU to create an effective synergy

09 august 2018

Fintech startup Carats.io and online diamond-trading platform IDEX - International Diamond Exchange, have announced that they have signed a Memorandum of Understanding (MOU), says a press note from both the organizations.

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Image credit: Carats.io


According to the statement, the two will cooperate in the areas of data analysis and the development of new financial vehicles for both the diamond industry and general public. These will be based on Carats.io's Diamond Financial index (DFX) and its CARAT coin. IDEX will serve as an escrow company, supporting Carats.io in its acquisition of diamonds to back the digital CARAT coins that it issues, providing diamond-buying and logistics services from sourcing to vaulting.
Eli Avidar President of Carats.io said, “We are delighted to announce our cooperation with IDEX. Its worldwide reach, excellent international position, and its exceptional strength in Antwerp will enhance our business operations, especially since Carats.io is UK registered."
"We are pleased to be cooperating with Carats.io, and to be able take advantage, on behalf of the diamond industry, of the synergies created by our two organizations working together," said Ehud D. Cohen, IDEX's Chairman.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished