In another move that signals a more sweeping adoption of Bitcoin, diamond retailer Samer Halimeh New York will begin accepting and trading Bitcoins as payment.
The international luxury diamond brand stated that previously most diamond purchases were completed with USD. However, a recent shift in Asian and Middle Eastern investor sentiment has led to a demand for Bitcoin purchases, and especially in VIP purchases of more than seven figures.
Diamond trading is one the latest industries being revolutionized by Blockchain. The Blockchain is also used in helping combat the trade in blood diamonds and the spreading of counterfeits.
Samer Halimeh, CEO of the diamond retailer, said that Bitcoin provides a special vehicle for purchasing diamonds and other assets. Because of the flexibility of the cryptocurrency, many global clients are calling for BTC transactions both as sellers and buyers.
He said:
“Because trading and retailing via Bitcoins can be done from anywhere in the world, it is especially beneficial for our suppliers in Africa and our clients from developing countries like China, Brazil, South Africa, Nigeria, India and Uzbekistan. We also believe that in the future the currency will revolutionize the luxury goods marketplace and the use of this digital currency will make trading and purchases for our clients and contacts easier, cheaper and much faster.”
The company will use BitPay as its merchant service provider who will also host the firm's wallet and Bitcoin supply.