Behold ‘the concentrated portability of VULT’

A New York-based financial technology company – aptly named “Vult” – recently unveiled its “revolutionary” new diamond-based asset at Capital Club Dubai in the United Arab Emirates.

Company CEO Joseph Lipton said Vult uses “Internet-based technologies and state of the art authentication” provide consumers with a portable store of wealth in the form of a tangible asset. Lipton added the diamond industry’s business model has created limitations for individual investors and prevented diamonds from emerging as a “true, transparent asset class and store of value.”

“While gold is an important investment for protecting wealth, it doesn’t offer the concentrated portability of Vult,” said Lipton at last week’s press conference. “Vult allows individuals to easily price, buy, transport or sell investment-grade diamonds as a new and accessible asset. Investors now have an alternative store of wealth that is unlike the current system of non-standardised laboratory graded loose diamonds.”

He added: “We have transformed diamonds from a personal asset into a new form of wealth and global monetary exchange.”

FINANCIAL TECH

Lipton stressed Vult wouldn’t compete directly with existing luxury diamond markets but outlined some of the “unique advantages” it would offer individual investors. Among the biggest benefits to investors is an accessible, electronic diamond-trading instrument that allows for a “simple, transparent, Internet-based, and consumer-centric market.”

vult2

Vult offers ‘concentrated portability,’ says company CEO Joe Lipton.

“Imagine needing to transport thousands of ounces of silver or kilos of gold during a future financial crisis,” said Lipton. “Investors would clearly benefit from an additional tangible, more portable asset—unlike other commodities in uncertain times.”

Lipton added: compared to gold and other forms of storing wealth, Vult is “hundreds of times” denser in value and comes in multiple denominations, allowing investors to meet their varied needs.

For more information, visit vult.com/faqs/.

Leave a Reply

Keep up to date with the numismatic community

Sign up to receive our newsletter.

Canadian Coin News

Canada

Canadian Coin News is Canada's premier source of information about coins, notes and medals.

Although we cover the entire world of numismatics, the majority of our readers are Canadian, and we concentrate on the unique circumstances surrounding collecting in our native land.

Send Us Your Event

Running an event? Send it to us and we will display it on Canadian Coin News!

Submit Event →

Subscribe To 26 Issues For Just $45.75/year

Subscribe today to receive Canada's premier coin publication. Canadian Coin News is available in both paper and digital forms.

Subscribe Now

We acknowledge the financial support of the Government of Canada through the Canada Periodical Fund of the Department of Canadian Heritage.