The Natural Diamond Council (NDC) is partnering with Diamond Standard to offer retailers and their customers the opportunity to invest in the company’s “coins” and “bars.”

The NDC plans to develop educational materials that outline the investment profile of diamonds, as well as the environmental, social and governance characteristics associated with Diamond Standard’s offerings, the pair said in a joint statement last week.

New York-based Diamond Standard has developed an exchange-traded diamond commodity with regulatory approval. The company has claimed to have resolved two issues that have kept investors from investing in diamonds on the open market: fungibility — the characteristic of being replaceable with other identical items, as is the case with gold or oil — and the lack of a transparent spot price.

“This collaboration presents a unique opportunity to educate a wider audience on the inherent value of natural diamonds in an alternative way, while extending Diamond Standard’s reach to leading retail jewelers in the US,” said David Kellie, CEO of the NDC.

Instead of selling individual diamonds, Diamond Standard groups diamonds together into “coins” and “bars” to average out the value, creating standardized pricing for each product and making them fungible. A blockchain token is attached to each unit.

Natural diamonds are an “ethically sourced, rare and finite natural resource,” the NDC noted. Diamond Standard’s coins and bars have attracted institutional investors, family offices, and funds, the firm added.

Consumers will purchase these products through Diamond Standard with a designated retailer’s code. In turn, the retailer will receive a commission, marketing materials, collateral, branding support, and training, explained Kellie and Diamond Standard founder and CEO Cormac Kinney.