RAPNET PRESS RELEASE, February 5, 2024, Las Vegas… RapNet and Tracr are pleased to announce that RapNet, the world’s largest and most trusted diamond trading network, is now providing rough diamond source information direct from Tracr.
The evolving environment with sanctions and import restrictions within the diamond industry continues to make provenance increasingly important and enhances the need for greater transparency in diamond provenance data. The provenance data provided by participants on the Tracr platform provides RapNet members with increased confidence in the provenance of Tracr-registered diamonds listed on RapNet.
Wes Tucker, Head of Tracr, said: “The ability to allow you to explore digital provenance at scale through leading marketplaces such as RapNet, is a new paradigm, demonstrating how we can deliver enhanced value to the industry by integrating existing channels in new and innovative ways.”
“RapNet is excited to be working with Tracr to bring our members tech-verified source information, traced from the mine to the polished” says Saville Stern, RapNet COO. “This couldn’t come at a better time as the diamond trading community needs the ability to trade diamonds with confidence in the shifting legal and sanctions landscape. As the G7 nations begin implementing tighter provenance requirements, RapNet is at the forefront of ensuring our members can trade diamonds with confidence.”
The cooperation between Tracr and RapNet is an important step forward on the journey towards creating a truly connected diamond industry.
Rapaport Press Contacts: [email protected]
US: Sherri Hendricks +1-702-893-9400
India +91-22-6628-6500
For information about RapNet, visit www.RapNet.com.
About RapNet: RapNet, owned and operated by Rapaport USA Inc, was established in 1992. It is the world’s largest and most important diamond trading network, daily listing over 1.6 million diamonds valued at more than $8.9 billion and hosting members from 99 countries. RapNet provides a competitive and transparent peer-to-peer trading network with no commission charges. Additional information is available at www.RapNet.com.
About Tracr: Tracr is the world’s first fully distributed diamond traceability platform that starts at the source and operates at scale, bringing the ability to explore the provenance, authenticity and unique journey a natural diamond has taken along the diamond value chain. To date, Tracr has registered more than 1.7 million rough diamonds at source and 200,000 diamonds at the manufacturer level securely on their dedicated Tracr instances.
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