Binary options platform and broker turned blockchain company TechFinancials Inc (LON:TECH) has announced that the CEDEX blockchain diamond exchange has gone live in Beta mode, allowing investors to trade diamonds as a financial asset class.
Last year, LeapRate reported that TechFinancials has partnered with private banking expert Saar Levi to start a new venture called CEDEX.com.
TechFinancials has a 2% of CEDEX’s current capital on a fully diluted basis and an option to acquire a further 90% of Cedex Holdings Ltd, the holding company for the CEDEX blockchain-based online exchange for diamonds. In January, shares of TechFinancials Inc were soaring by 28% to an all time high of 37 pence, after the company announced that it was increasing the size of the planned token sale for Cedex Holdings Ltd.
CEDEX allows investors to securely and easily trade in digitized diamonds (DDC – Digital Diamond Certificate), while enabling diamond holders to liquidate their assets.
Asaf Lahav
Asaf Lahav, Chief Executive Officer of TechFinancials commented:
We are delighted to have played a pivotal part in the launch of the first blockchain-based diamond exchange in the world. This milestone achievement is testament to the innovative capabilities of both CEDEX and TechFinancials to build a new, ground breaking platform and we look forward to updating the market on its progress in due course.
Saar Levi
Saar Levi, Chief Executive Officer of CEDEX stated:
This is a major step forward in our exciting journey to transform diamonds into an asset class. At CEDEX, we are commited to realizing our long term vision in which both institutional and individual investors will be able to trade diamonds as one of the leading commodities.