VULT, a new financial technology which will transform the way diamonds are traded around the world has launched in selective markets globally and is being introduced this week in Singapore.
VULT is a consumer financial technology (FinTech) product that uses internet-based technologies and state of the art authentication to address the need of consumers for a portable store of wealth and tangible asset.
According to Jay Plourde, Executive Director and Co-Founder of Secured Worldwide, the nature of the diamond trade’s business model has created limitations for individual investors and has prevented diamonds from emerging as a true, transparent asset class and store of value.
Following hot on the heels of the brand new Singapore Diamond Exchange, VULT provides a unique solution.
Speaking at the Campden Wealth Asia Pacific Family Investment Conference at The Four Seasons Singapore this Thursday, Plourde will explain how VULT has created a new, liquid, accessible asset class.
“While gold is an important investment for protecting wealth, it doesn’t offer the concentrated portability of VULT. Technology has enabled us to financialize diamonds, transforming them from a personal asset into a new form of wealth and global monetary exchange,” he says.
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.
VULT combines proprietary and patented remote authentication technologies for identification with GIA graded diamonds in a completely secure environment. Secure facilities established across the world allow VULT to be kept privately or stored in a duty and VAT free zone providing greater convenience and accessibility to the consumer.
Made of sintered zirconia, with a single crystal sapphire cover,VULT has invested over three years of research and development into anti-fraud technologies, ensuring the diamonds cannot be tampered with or replaced.
Among the benefits of VULT is the creation of an understandable, mathematically driven, tangible diamond trading instrument that moves diamonds into a simple, transparent, internet-based, and consumer-centric market.
Consumers seek investment diversification and VULT provides a new way to invest or simply pass their wealth to family members who may be living in other countries.
In respect to gold and other forms of storing wealth, a VULT is hundreds of times denser in value. VULTs are available in multiple models, enabling investors to meet their varied needs.
“Imagine needing to transport thousands of ounces of silver or kilos of gold during a future financial crisis. Investors would clearly benefit from an additional tangible, more portable asset – unlike other commodities in uncertain times. No other asset class allows you to carry a physical asset of such dense value, in the palm of your hand, in any other form than diamonds,” Plourde says.
Secured Worldwide was formed in the US in 2013, and has since expanded its operations into Hong Kong, China, Miami, Panama and Dubai. The company’s mission is to provide sales, delivery, storage, transparent pricing and liquidity to consumers, with an independent, secure, and tangible global asset.