A California-based financial firm just announced the launch of the ADE token in South Korea in connection with the Asia Diamond Exchange. According to the release, the token “is designed to optimize transparency and fair pricing to the diamond industry to provide enhanced benefits to all stakeholders.
“By validating transactions on a blockchain, there are no chances of counterfeiting or substandard pieces. Consumers will be able to design and purchase custom diamond jewelry and loose gemstones at significantly better prices by using the ADE tokens.” Shares of PHI Group Inc. (OTCPK:PHIL) rallied on the news.
PHI Group Inc. is part of the financial services industry. Its primary scope of business is mergers and acquisitions. Its M&A advisory and consulting services include strategic and transaction advisory and consulting services related to acquisitions and divestitures. It advises and consults with buyers and sellers of businesses, provides corporate restructuring and turnaround management services and delivers post-closing value enhancement services.
Traders were bullish on the news as shares quickly jumped up to $0.0069/share (+16.95%) at the session high. This move is a strong confirmation of the support the stock found earlier this month as long term shareholders hope for a start of the next bull run.
