(PRESS RELEASE) LAS VEGAS, NV — RapNet and Tracr announced 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.
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