Hedera
CARAT is fractional ownership of Diamond Standard Coins and Bars: physical commodities each holding a standardized, GIA-graded set of natural diamonds, authenticated by embedded wireless chips and held with custodians including Brinks. One CARAT is title to 1/5000th of a Diamond Standard Coin, redeemable for the physical commodity from 5,000 CARAT. The program is regulated by the Bermuda Monetary Authority and audited by Deloitte; the reference price is the DIAMINDX benchmark published on Bloomberg and LSEG. Prism verified the token, supply and a live market on the Hedera network.
Fractional title to regulator-approved diamond commodities in Brinks custody.
Prism analyst note
The first diamond listing on Prism, and the only regulator-approved diamond commodity in tokenized form: physical GIA-graded stones sealed into chip-authenticated coins and bars, with CARAT as fractional title. Diamonds famously lacked a commodity market because no two stones were fungible; the standardized commodity plus the DIAMINDX benchmark is the first credible answer. Liquidity is thin and the float is small, so treat it as exposure to an early market, not a deep one.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- GIA-graded natural diamonds sealed in Diamond Standard Coins and Bars; one CARAT is 1/5000th of a Coin
- Legal structure
- Title to fractional physical diamond commodities (Diamond Standard Coins and Bars)
- Jurisdiction
- Bermuda (BMA-regulated) / United States
- Custodian
- Brinks and other approved vault custodians
- Administrator
- Diamond Standard Ltd.
- Reserve information
- Each Coin and Bar holds a standardized set of GIA-graded diamonds; the commodities backing circulating CARAT sit in approved vaults and the program is audited by Deloitte. Prism verified the token, its supply and a live on-chain market, and does not independently attest the vault contents.
- Transfer restrictions
- Freely transferable HTS token on Hedera with a live public market; purchases from the issuer and redemption of physical commodities run through Diamond Standard's own onboarding.
- Investor eligibility
- Open / permissionless
- KYC required
- No, permissionless transfers
Reserve verification
Contracts & on-chain data
Addresses shown only where independently confirmed against explorers and issuer documentation. Holder and transfer analytics are available via the linked explorers.
Frequently asked
Is CARAT backed by real diamonds?+
CARAT is title to a fraction of a physical Diamond Standard Coin or Bar, each holding GIA-graded diamonds and held in approved vaults. The program is regulated by the Bermuda Monetary Authority and audited by Deloitte. Prism verifies the token, supply and live market on-chain, not the vault contents.
Why is this on Hedera rather than Ethereum?+
The issuer chose the Hedera network for the token. Note that an unrelated 2018 token on Ethereum also uses the CARAT ticker; it is a different, inactive project. The Hedera token 0.0.1958126 is the one Diamond Standard issues.
