Diamond Standard Partners with Simplex to Provide Global Access to CARATS, Its Groundbreaking Payment Solution

General

Diamond
Standard
Co.,
developer
of
the
world’s
only
regulated
and
market-traded
natural
diamond
commodities,
today
announced
it
has
partnered
with
payment
gateway
Simplex
by
Nuvei
to
offer
seamless
payment
solutions
for
CARATS™
holders,
the
company’s
digital
commodity
currency
issued
by
real
world
Diamond
Standard
Coins
and
Bars.
With
this
partnership,
Carats
are
now
listed
on
Simplex
and
available
for
onramps
on
leading
exchanges
and
wallets
and
to
the
entire
350+
partner
network
of
Simplex.
Users
can
effortlessly
buy
CARATS
using
credit
cards,
fiat,
or
most
cryptocurrencies,
and
use
them
for
easy
and
quick
value
transfer.

Simplex
by
Nuvei
bridges
the
gap
between
traditional
fiat
currency
(like
U.S.
dollars
or
Euros)
and
the
world
of
digital
currencies.
The
integration
of
Simplex’s
infrastructure
with
CARATS
will
make
it
even
easier
for
businesses
and
individuals
to
implement
CARATS
for
value
transfers
and
payment
needs,
whether
that’s
sending
cross-border
remittances,
paying
for
services
online,
or
redeeming
CARATS
that
have
been
earned
online,
such
as
through
online
gaming
or
rewards.
Simplex
will
also
be
powering
the
upcoming
CARATS
mobile
app
that
will
allow
businesses
and
individuals
to
do
all
this
with
their
phone.

“Many
money
transmitters
are
stuck
in
the
past,
neglecting
all
the
tools
available
or
bound
by
the
legal
and
regulatory
hurdles
of
payments
and
money
transfer.
This
is
a
tough
nut
to
crack
even
for
forward-thinking
payment
innovators
like
Elon
Musk,
whose
X
platform
is
unable
to
do
business
as
a
money
transmitter
in
34
U.S.
states
and
200
other
global
jurisdictions,”
said
Cormac
Kinney,
Founder
and
CEO
at
Diamond
Standard
Co.
“Through
this
partnership
CARATS
can
now
be
used
for
instant
money
transfer
without
the
headaches
people
traditionally
face.”

CARATS,
recently
listed
on Bitrue,
are
exempt
from
most
money
transmitter
and
cryptocurrency
regulations
because
they
are
a
title
to
a
deliverable
commodity.
As
electronic
documents
of
title,
CARATS
may
be
usable
for
payments
or
value
transfer
in
social
networks
like
X
(fka
as
Twitter),
as
well
as
by
global
gaming
platforms,
without
the
same
requirements
for
licenses.
CARATS,
which
are
valued
based
on
the
current
market
price
of
diamond
commodities,
are
ideal
for
integration
into
global
social
networks
and
for
international
remittances
between
users
who
lack
bank
accounts,
but
who
have
mobile
phones,
which
can
be
used
to
send
and
receive
CARATS
for
local
currency.
CARATS
are
issued
from
wirelessly
audited
physical
commodities
held
by
Brink’s
and
audited
by
Deloitte.

About
Diamond
Standard
Commodities

Diamonds
are
a
$1.2
trillion
natural
resource
that
was
previously
inaccessible
to
investors,
but
today
thousands
of
investors
own
Diamond
Standard
commodities.
See Wall
Street
Journal (2)
(3), Financial
Times, CNBC, Bloomberg (2)
(3), Forbes, Coindesk (2)
and More.

About
Diamond
Standard
CARATS

One
Carat
is
the
title
to
1/5000th
of
a
Diamond
Standard
Coin
(today’s
spot
=
$4,300)
held
by
Brinks.
A
Bar
equals
ten
Coins,
so
each
Bar
is
equal
to
50,000
CARATS.
A
Carat
is
legally
and
taxwise
still
a
commodity.

The
reserve
is
autonomous:
anyone
can
deposit
or
withdraw
Diamond
Standard
commodities,
without
requesting
permission
from
a
sponsor.
The CARATS
White
Paper was
published
today
and
users
can
buy
CARATS
at diamondstandard.co/carats or
outside
the
U.S.
at bitrue.com.

No
Cryptocurrency
Means
No
Money
Transmission

When
cryptocurrencies
came
into
existence,
regulators
classified
them
as
electronic
money.
For
a
platform
to
support
cryptocurrency
transactions,
it
must
register
as
a
money
transmitter.
Global
social
networks
may
need
hundreds
of
licenses
to
enable
transactions
between
users.

CARATS
use
public
blockchains
and
trade
on
crypto
exchanges,
but
are
not
created
by
a
sponsor
or
an
algorithm;
they
are
issued
by,
and
redeemable
for,
individual
physical
commodities.

CARATS
Enable
Unique
Use
Cases

CARATS
are
ideal
for
integration
into
global
social
networks,
and
for
international
remittances,
between
users
who
lack
bank
accounts,
but
have
mobile
phones.

Elon
Musk’s
X
(fka
Twitter),
just
received
a
money-transmitter
license
from
Utah,
its
15th
since
beginning
to
explore
offering
payment
features
in
2019,
leaving 34
states
in
the
USA,
plus
200
more
jurisdictions
around
the
world.
Because
CARATS
are
commodities,
and
not
money
or
cryptocurrency,
they
may
be
usable
for
payments
or
value
transfer
in
social
networks
like
X,
as
well
as
by
global
gaming
platforms,
without
the
same
requirements
for
licenses.

About
Simplex
by
Nuvei

Simplex
by
Nuvei
is
the
fiat/crypto
infrastructure
for
the
entire
world.
An
EU-licensed
financial
institution,
Simplex
by
Nuvei
aims
to
change
the
status
quo
of
the
current
crypto
markets
by
providing
simple,
seamless,
and
secure
channels
to
convert
over
100+
fiat
currencies
to
170+
cryptocurrencies.
Simplex
has
been
actively
supporting
existing
and
new
protocols
in
the
industry,
nurturing
and
expanding
its
portfolio
of
supported
cryptocurrencies.

About
Diamond
Standard
By
using
computer
science
to
optimize
diamonds
into
a
market-traded
asset,
Diamond
Standard® enables
investors
to
access
a
natural
resource
worth
$1.2
trillion—more
than
all
the
world’s
silver
and
platinum
combined.
This
breakthrough
real
world
asset
is
efficiently
transacted
as
a
vault
receipt
token,
providing
diversification,
potential
inflation
protection,
and
a
new
store
of
wealth
for
institutional
and
individual
investors,
while
bringing
transparency
and
efficiency
to
the
diamond
supply
chain.
To
Invest
Brilliantly® visit www.diamondstandard.co