DiamondBack Partners with SEED Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum to Expand the Reach of a Diamond-Backed Digital Currency Stablecoin to the MENA Region.
• DiamondBack announces plans on the “Dubai DiamondBack Stablecoin Global Initiative” and a new office in Dubai to create a central hub of operations for the Middle East and North Africa Region;
• DiamondBack DBK Coin is a digital currency stablecoin, benchmarked to the U.S. Dollar, and backed in full by natural investment-grade diamonds;
• SEED Group/The Private Office of Sheikh Saeed bin Ahmed Al Maktoum takes a lead on the legalization of the DBK Coin as an accepted digital currency for transactability in the UAE;
Dubai, United Arab Emirates – October 1, 2019 – DiamondBack (DBK), the creator of the world’s first diamond-backed stablecoin, today announced its strategic partnership with SEED Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to lead a global opportunity and expand the reach of the DBK Coin to the Middle East and North Africa (MENA) region. DiamondBack’s MENA headquarters will be based in Dubai and headed by DiamondBack CEO William Eng.
“We are tremendously excited about our partnership with the SEED Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum,” said William Eng, CEO of DiamondBack Group. “With Dubai being the Gateway to the Middle East and their commitment to the advancement of the blockchain and cryptocurrency, the DiamondBack stablecoin/stablecurrency is well-positioned to deliver a diamond-backed asset coin founded on the principle of ‘sound crypto’.”
DiamondBack’s DBK Coin was introduced conceptually earlier this year, owing to its Trust Model a natural diamond-backed stablecoin, has gained global attention. The DBK Coin enables owners to remove country boundaries, connect global payment solutions and deliver an ecosystem to address the current problems of traditional financial structures, which will also serve as a ‘transactability bridge’ between traditional blockchain-based payments and future systems. The backbone of the DBK Coin is the Trust Model: Certified GIA investment-grade diamonds, Insured by Lloyds of London, Secured by Brinks, in Trust with Winchester Global Trust-Bermuda and Audited by PricewaterhouseCoopers.
Building upon a press release involving AlphaPoint’s worldwide digital asset exchange platforms: AlphaPoint with DiamondBack, DiamondBack is thrilled to announce a partnership with SEED Group.
SEED Group/The Private Office of Sheikh Saeed bin Ahmed Al Maktoum will commence work and take the lead in pursuing a planned global initiative where a MENA-focused summit of countries will utilize ‘sound crypto’ that will be universally accepted and globally independent.
“We are pleased to partner with DiamondBack as we look forward to meeting the significant market demand for a stablecoin,” said Hisham Al Gurg, CEO of SEED Group and The Private Office of Sheikh Saeed Al Maktoum. “With Dubai already being a global hub, our aim at The Private Office is to take every step with DiamondBack, build the correct foundations, realize the legalization of the coin and promote it as it expands in the region and as its demands develop and become more complex. I believe this will enable them to focus on their mission and make a greater impact. We are confident that this partnership generates an outstanding opportunity to introduce a global economy the collective advantages of blockchain and digital currency.”
In addition to the DBK Coin, the DiamondBack ecosystem also involves DiamondEx – DiamondBack Payment Platform with DiamondExpress Debit Card, a financial software that provides easy and flexible loading and withdrawal options for customers around the world, such as localized bank transfers, global bank wires, credit/debit cards, prepaid cards, gift cards, etc.
DiamondBack Group, through its subsidiaries, the DiamondEx Financial Services Platform offers a complete digital transaction solution. The DiamondBack (DBK) Coin is a diamond-backed digital asset, stablecoin/stablecurrency, founded on the principle of ‘sound crypto’. The DBK Coin is supported by its Trust Model with the necessary assurances for a safe stablecoin: value of the underlying diamonds, benchmarked 1:1 to the U.S. Dollar. DiamondBack’s strength lies in its ability to bridge the gap between digital and fiat currency using 100% certified, insured, secured, trusted and audited diamonds that are registered on the blockchain, adding real-world value for its digital tokens. DiamondBack’s “Trust Model” includes certification by GIA, insurance by Lloyds of London, secured storage by Brinks, in trust by Winchester Global Trust – Bermuda and assurance/audit services by PwC. DiamondEx is a proprietary financial services solution platform that opens a pathway for people to find safety in a store of value, stability in their means of exchange, and a platform for transactability for “Everyone, Everywhere, Everyday”.
For more information, visit www.diamondback.io
About SEED Group
Over the past 16 years, SEED Group has formed strategic alliances with leading global companies representing diverse regions and industries. These companies have propelled their business interests and goals in the Middle East & North Africa (MENA) region through the support and strong base of regional connections of the SEED Group. The Group’s goal is to create mutually beneficial partnerships with multinational organizations and to accelerate their sustainable market entry and presence within the MENA region. SEED Group has been a key point in the success of all its partners in the region helping them reach their target customers and accelerate their businesses. The Private Office was established by Sheikh Saeed bin Ahmed Al Maktoum to directly invest in or assist potential business opportunities in the region, which meet The Private Office’s criteria.
For more information, visit www.seedgroup.com.
DiamondBack Media Contact
SEED Group Media Contact
Nomarie Jean Lacsamana
+971 4 373 5068