14/03/2019 23:24:12

Update: AlphaPoint Announces DiamondBack Stablecoin Availability for its Clients’ Exchanges

NEW YORK, NY, March 14, 2019 (GLOBE NEWSWIRE) -- 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.

Chad Olivent, Diamondback Group President, said, “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.”

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.

Igor Telyatnikov, AlphaPoint co-founder and President, added, “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.” 

About AlphaPoint: 

AlphaPoint’s award-winning technology enables customers to unlock the capital trapped in illiquid assets. AlphaPoint provides software to asset owners, exchange operators, and institutional capital markets players who digitize assets as well as launch and operate markets. AlphaPoint’s team of financial market veterans are pioneers in the use of blockchain technology. Since 2013, more than 80 client institutions in over 35 countries have used AlphaPoint’s software solutions to digitize assets and execute their blockchain strategies. For more information, please visit https:/alphapoint.com.

About DiamondBack Group

DiamondBack Group, through its subsidiaries DiamondBack Investments, Ltd. and DiamondEx payments platform, offers a complete transaction solution.

The DBK coin, asset-backed with particularly 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 DiamondBack Trust model provides traders with the assurances needed for a safe, stablecoin. For more information, please visit www.diamondback.io

Tamani Jayasinghe

Account Supervisor, Wachsman

(917) 900-7986

tamani.jayasinghe@wachsman.com

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