Carats Redemption

Any owner of enough Carats can redeem a Diamond Standard Coin or Bar token without asking for permission (subject to KYC). A user who owns a BCC or BCB token can take delivery of a Diamond Standard Coin or Bar on demand, subject only to shipping fees. Holders of 10 BCC tokens can exchange them for 1 BCB token, or vice versa.

Using the Token Exchanger (app.diamondstandard.co), Carats on any supported blockchain are converted into BCC or BCB tokens, which users self-custody in a digital wallet. There are currently no fees, other than gas. BCC or BCB token holders can trade them for USDC on the Diamond Standard Marketplace (spot.diamondstandard.co), which also charges no fees.

Users must complete a KYC and AML review to register on the Diamond Standard Token Exchanger and Diamond Standard Marketplace. There may be a KYC processing fee.

The exact amount of Carats needed to redeem a Diamond Standard Coin or Bar depends on whether you select delivery or custody. To custody a Coin or Bar in an approved vault (required to enable digital trading or conversion to Carats), users need to remit extra Carats to pay for 1 year of custody (currently $36 per Coin and $240 per Bar). To have the custodian ship a commodity to you (currently USA, Canada, EU, and Switzerland only), extra Carats are required to pay for shipping. Vault pickup is not offered.