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Apr, 16 2018

Diamond- backed Crypto Assets Launched by Al Kasir Group

 The company has announced the Pre-ICAO (Initial Crypto Asset Offering) outset during which these crypto-assets can be purchased on the company’s online portal with a bonus.

Diamond- backed Crypto Assets Launched by Al Kasir Group

Al Kasir Group, a Dubai-based company has launched three new crypto assets backed by certified diamonds.

A private office of His Highness Sheikh Ahmed Bin Obaid Al Maktoum who also owns Al Kasir Jewellery Trading and Al Kasir portal came together in a joint venture with the name Al Kasir Group.

 Al Kasir Group director Dr. Amit Lakhanpal said, “For the first time ever, the world is about to experience a set of three crypto-assets backed by IGI certified real diamonds. Being backed by a real-world Asset, these three crypto-assets: Al Mas, Al Haqeek and Al Falah are better capable to store and translate value due to a base measure or gauge around which their value revolves.”

 The company has announced the Pre-ICAO (Initial Crypto Asset Offering) outset during which these crypto-assets can be purchased on the company’s online portal with a bonus.

Investors will have a variety of packages to choose from, ranging from $250 to $250,000, against which they will be offered Indian Gemological Institute (IGI) certified diamonds of the same value after the completion of the ICAO.

Dr. Lakhanpal noted “Along with the diamonds the buyer will also get crypto-assets. These crypto-assets can subsequently be used to physically procure a range of products like precious stones, perfumes, Oud, Bakhoor and Attar from the company’s online shopping portal. The buyer can redeem only 50 percent of the product purchase value in crypto currency and the remaining 50 percent will have to be made via currency payments for future purchases.”

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