Loose diamonds are the most concentrated form of portable wealth in the world and yet, due to what has been described as “opaque” trading practices in the commodity, they have remained an unregulated and non-interchangeable asset class – until now.
With the company’s official global launch only weeks away – planned to be simultaneous in several major cities across the world, including Dubai – the New York based financial technology firm, VULT, is peaking much interest by promising to revolutionise and disrupt current trading practices, by transforming diamonds into a new asset class.
Designed as a portable and accessible asset that combines propriety identification, remote authentication technologies with GIA graded diamonds, VULT will allow investors to buy, transport, sell or trade a VULT in a completely secure environment.
While full details will be revealed at a press conference at the Capital Club, Dubai’s Premier Private Members Club, on next 10th May; speaking ahead of the launch, Joseph Lipton, CEO of VULT, said:
“VULT is a beautifully disruptive innovation that will transform the world’s most concentrated form of wealth: diamonds. Without giving away too much before the official launch, I can reveal is that VULT is not directed at the diamond industry itself. VULT is a consumer-centric product that allows individuals to access the dense, portable store of wealth that diamonds have been to industry insiders – for hundreds of years. Think of VULT as a new way to buy, sell and trade diamond assets.”
The official media launch for VULT will be held on 10th May 2016, at the Capital Club Dubai, with consumers and investors able to download information and learn more from company representatives soon after.