SINGAPORE, November 3, 2020 – Gembridge, a new regulated global digital coloured gemstones, pearls and jewellery trading platform, will launch in early 2021.
Gembridge will lead the digital transformation of the certified coloured gemstone, pearls and jewellery trade by providing a marketplace for verified members to buy, sell and consign, via a secure and insured door-to-door service.
Gembridge has engaged world-class business collaborators, including KPMG as corporate finance advisors, Brink’s for global logistics, Anglo East Group (AEG) for insurance, Ingenique Solutions for KYC/AML compliance, and ICA GemLab for gemstone verification.
Gembridge is licensed to trade by Singapore’s Ministry of Law in cooperation with the Financial Action Task Force (FATF), which is leading regulatory reforms across 200 countries.
“Some US$1 trillion of gemstones, pearls and jewellery are trapped in industry and consumer hands due to the absence of a trusted secondary market,” says Gembridge Chairman, Anthony Brooke.
“The industry is ripe for disruption with only a tiny proportion of these precious stones traded digitally each year. Digital adoption has been slow. The industry trades via countless fragmented networks, each made up of only a handful of trusted partners. The solution is a global digital marketplace where people can trade with trust.”
“Gembridge is a platform that members can trust at every stage of the transaction. Members can list precious stones and jewellery on Gembridge from anywhere in the world and benefit from transaction cost reductions of up to 70%,” says Gembridge CEO, Nick Marrett.
“Every Gembridge listing shows the true nature of each stone in superb detail,” Salil Shah, founder of Diamrusa and a pioneer Gembridge member, said. “Accurate information is the cornerstone of trading with trust on Gembridge.”
Precious stones and jewellery sold on the platform are shipped to members via Gembridge’s Global Hubs in Bangkok, Geneva and Bahrain for verification before final delivery.
“A new standard of lab report has been created to verify that precious stones traded on Gembridge match their certificates prior to final delivery,” said Kenneth Scarratt, managing partner at ICA GemLab, which verifies gemstones in the Bangkok Gembridge hub.
Elke Berr of Berr and Partners, another member, said, “Today we only trade with a handful of people we know. Now imagine trading with that same trust – with people all over the world. That is what Gembridge can do for us all.”
“Knowing that all Gembridge transactions are regulated brings greater peace of mind. Trading in a marketplace where all parties have been internationally vetted and peer-reviewed, provides additional confidence that you will get paid in a timely manner and the customer is getting what they paid for,” said Edward Boehm of RareSource and also a member of Gembridge.
Gembridge will initially serve only the wholesale B2B market with plans to launch B2C and C2C platforms later in 2021
Gembridge believes in responsible supply chain management and sustainable business practices. The company is a member of the Responsible Jewellery Council (RJC) and has applied for membership of CIBJO-World Jewellery Confederation.
“The pandemic has accelerated the digital transformation of the global gemstones and jewellery industry, paving the way for pioneering solutions for trade,” says Gembridge Chief Experience Officer, Mark Taylor.
Gembridge kickstarted its Minimum Viable Product in July 2020. For this pre-launch phase, 20 pioneer members were invited to use the platform and contribute to its final development, providing insights and feedback prior to the public launch in early 2021.
Members have already started to transact and come from across the world including North America, UK, Switzerland, France, Austria, Russia, Brazil, the Middle East, India, Sri Lanka, Thailand, Hong Kong, and Australia.
These members are made up of some of the top names in the industry, including KGK in India; Diamrusa and Sant Enterprises in Thailand; Crown Color in Hong Kong; RareSource in North America; Berr and Partners in Switzerland; and Jureidini Gems & Jewellery in the Middle East.
Listed items on Gembridge include some exceptional gemstones and jewellery, including: 9-carat Mozambique ruby from Sant,
23-carat sapphire from Crown Color,
5-carat Mozambique ruby ring from Diamrusa,
3.67-carat emerald from KGK.
Singapore-based Gembridge is run by an accomplished management team, well-versed in the precious stones industry, marketing and digital transformation, comprising Anthony Brooke, a high-profile professional with four decades of experience in the gemstone industry, and two successful digital entrepreneurs, Nick Marrett and Mark Taylor.
Nick and Mark have 20+ years ’experience in the convergence of communications, information and entertainment, working with companies such as Google, Apple, eBay, Airbnb, Red Bull, American Express, Nestlé, Unilever and others.
Gembridge has achieved full funding for its current stage ahead of schedule, due to strong buy-in from professional investors and leading industry participants.
We are now inviting members of the trade to pre-register for the launch of Gembridge in early 2021. As well as familiarising yourself with gembridge.com, you can complete the member verification process, enabling you to join an exclusive membership with other respected industry players. You will also be able to view and buy listings from pioneer clients in the Showcase section.
At launch, Gembridge will invite verified members to list their own precious stones and jewellery on the platform and start to sell and consign.
We look forward to helping you Trade with Trust. You can pre-register, find out more or collaborate by completing this form: https://gembridge.com/register/