CEDEX

Company Overview

Snapshot

Founded in January 2017 by Ronen Priewer, CEDEX operated with 11–50 employees. The company focused on bridging the traditional diamond industry with financial markets through a blockchain-based exchange. CEDEX secured $50 million worth of diamonds for an Exchange-Traded Fund (EFT) in March 2019, demonstrating its capability to integrate high-value assets into its platform.

Business overview

CEDEX developed a global exchange designed to integrate the traditional diamond industry with financial markets. Its core technology included a machine learning algorithm, DEX, which rated diamond asking prices based on gemological composition, market financial indices, and global inventory analysis. The platform utilized blockchain technology to track diamond location and status from seller to buyer, preventing duplicate transactions. CEDEX served markets globally, operating in the Fintech & Insurtech sector, with a focus on trading and investing, and targeting both B2C and B2B segments.

Strategic signal

In March 2019, CEDEX secured $50 million worth of diamonds for its Exchange-Traded Fund (EFT). This development signaled a significant step towards establishing diamonds as a viable, liquid financial asset class, bridging the gap between a historically opaque market and modern financial instruments. For investors, this indicated CEDEX's potential to attract substantial assets and validate its model for tokenizing and trading high-value commodities on a blockchain.

Company Intelligence Q&A

When was CEDEX founded and by whom?

CEDEX was founded in January 2017 by Ronen Priewer.

What is CEDEX's primary focus?

CEDEX focuses on bridging the gap between the traditional diamond industry and financial markets through a blockchain-based global diamond commodity exchange.

What is the DEX and how does it function?

The DEX is CEDEX's machine learning algorithm that rates a diamond's asking price. It incorporates gemological composition, diamond market financial indices, and global inventory analysis, utilizing artificial neural network technology.

How does CEDEX use blockchain technology?

CEDEX uses blockchain technology to track the location and status of diamonds on its exchange, from seller to custodian to buyer, ensuring transparency and preventing duplicate transactions.

What significant asset acquisition did CEDEX achieve in 2019?

In March 2019, CEDEX secured $50 million worth of diamonds for its Exchange-Traded Fund (EFT).