Blockchain Startup Carats Teams Up with Diamond Exchange IDEX, Reports Cryptovest

A blockchain initiative based in London, Carats.io, has formed a partnership with the diamond trading platform IDEX. This collaboration will see IDEX assisting Carats.io in acquiring diamonds to support its CARAT coin.

As outlined in a memorandum of understanding signed last week, IDEX will function as an escrow service, acting as a neutral intermediary. This involvement includes aiding Carats.io in the procurement of diamonds and managing their transportation from the source to the vault.

The diamonds will be sourced from businesses active on the International Diamond Exchange (IDEX).