Uphold Partners with AWDC, the World’s Largest Diamond Market, to Provide Next-Generation Financial Services to Its Network

Recently, Uphold announced its partnership with the Antwerp World Diamond Centre (AWDC) as one of two fintech companies to provide next-generation financial services to its network. AWDC is looking for a way to bring transparency and effectiveness to its diamond dealers' complex international transaction model, and Uphold can bring speed, savings, versatility and transparency to its international supply, which traditional financial alternatives are not currently able to provide well.

The Antwerp World Diamond Centre (AWDC) is the official representative of the Belgian diamond industry, responsible for managing the relationship between the diamond industry and the government, while promoting the interests of the Belgian diamond industry worldwide. It is reported that this innovative project will enable the $50 billion diamond trading business and more than 1,800 authorized diamond traders and dealers of AWDC to transfer, hold assets, trade and settle instantly and securely in more than 190 countries in any currency or asset form of their choice. By eliminating foreign exchange conversion fees and settlement delays using Uphold, AWDC trading partners will save tens of millions of dollars each year.

"As a representative company in this industry, we are always looking for new technologies and ways to support our diamond community. Antwerp maintains its leading position in the global diamond market by flexibly embracing innovative technologies," said Ari Epstein, CEO of Antwerp. "We are confident that the Uphold platform will save our members time and costs and reduce the burden of international transfers."

Anthony Watson, President and CEO of Uphold, said:

“We are honored to have been selected by the AWDC to meet the unique and complex financial services needs of the thriving and diverse diamond community. This partnership reflects the rapid change that financial technology is bringing to industries around the world. Embracing new financial technologies will save time and costs for AWDC members, while we will strengthen our compliance with regulations in more than 190 countries.”

At the same time, to support the project, Shangchi will set up a third European office in Antwerp (Belgium) and hire local employees. Initially, there will be 6 employees dedicated to cooperation with AWDC and its trading partners.

Editor: Meng Dada
Source: Babbitt Information (http://www.8btc.com/uphold-awdc)