Editor’s Note
This article discusses PHI Group’s launch of the ADE token in Korea. The token aims to bring transparency and fair pricing to the diamond industry through blockchain verification, allowing consumers to purchase custom jewelry at competitive prices.
PHI Group announced on the 30th that it will launch the ADE token in Korea. According to PHI Group, the token is designed to optimize transparency and fair pricing in the diamond industry, providing enhanced benefits to all stakeholders. By verifying transactions on the blockchain, the possibility of counterfeits or substandard goods is eliminated. Consumers can use ADE tokens to design and purchase custom diamond jewelry and the gems themselves at much better prices.
The ADE token is intended to be deflationary by separately setting profits for buying and selling the token and systematically repurchasing PHIL shares on an ongoing basis in the future. International investors will be able to purchase and trade the token on exchanges such as Coinbase and Binance once it is listed.
The Asia Diamond Exchange (ADE) is a modern securities exchange established in partnership with the World Federation of Diamond Bourses (WFDB). PHI Group stated that it will be Asia’s first major rough diamond exchange, comparable to the diamond exchanges in Antwerp (Belgium) and Dubai (UAE). ADE is located in the Global Multi-Commodity Center near an international airport within a Vietnamese free trade zone. It is a modern securities exchange that partners with the WFDB and complies with the Kimberley Process Certification Scheme. ADE membership is reserved for individuals active in diamond trading for distinction. PHI Group explained that safety is ensured as ADE members can only trade with reputable companies adhering to strict best business practices and ethical compliance guidelines.
In addition to providing extensive services to support members’ daily transactions, ADE plans to offer a line of auxiliary services related to the diamond industry. Both members and their guests will have convenient access to networking and trade lounges, diamond management, gemological services, secure transportation, Kimberley Process offices, insurance and financial partners, and education.
ADE’s bidding and auction services are expected to play a significant role in Vietnam’s diamond trade, matching suitable products from sellers to buyers. It was stated that ADE will have optimal infrastructure, using state-of-the-art facilities, equipment, and personnel to host diamond bids, ensuring safe and transparent bidding for the benefit of both sellers and buyers.