Diamond Cryptocurrency Startup Receives $1.6M

RAPAPORT... Israeli startup Carats.io received first-round funding forits diamond cryptocurrency venture, the company said Monday.  The enterprise, which is working in partnership with theIsrael Diamond Exchange (IDE), raised $1.6 million from Net Capital Ventures, anIsrael-based venture-capital fund.Carats.io has created the first digital coin -named CARAT -backed by real, certified diamonds, which provides the stability of a diamondalongside the liquidity of cryptocurrency, Avishai Shoushan, its CEO (pictured), said. "We are bringing diamonds - the world's most preciouscommodity - to financial markets as a safe, transparent and liquid financialasset," Shoushan added. The coin is currently in the pre-sale phase, with a largenumber of subscribers registering on the website, the company said.