AlphaPoint adds DiamondBack stablecoin availability for crypto exchange clients

AlphaPoint, a global provider of asset digitization software and digital asset trading technology for licensed broker-dealers, ATS, and exchange operators, announced today that the DiamondBack stablecoin (DBK) is now available for its technology client network of over 80 exchanges in 35 countries. The DBK is one of the first insured stablecoins to be sold on any exchange and will be available for transactions on the DiamondEx payments platform later in 2019.

The DBK coin, asset-backed with rare, investment grade, certified diamonds, will be available on selected exchanges at a 1:1 ratio with the 2019 US$. The DBK coin is cryptographically registered, insured; and pending licensing under the auspices of the government of Bermuda.

The diamonds are insured by Lloyd’s of London, stored with Brinks, and periodically audited by PwC.

“The DBK coin offers a stable alternative for traders seeking relief from inherent cryptocurrency volatility. It provides a safe alternative to many devaluing fiat currencies, and the ‘DiamondBack Trust model’ provides traders with the assurances needed for a safe stablecoin. We selected AlphaPoint as the first digital asset exchange provider for the DBK coin because of their unparalleled installed base, and their support of over 100 digital assets.”

“AlphaPoint’s mission is to ‘make illiquid assets liquid.’ We are excited to give our client exchange operators the opportunity to offer new, interesting asset classes, such as tokens linked to diamonds.”