It’s part of a $5M development project.

(PRESS RELEASE) LAS VEGAS — Diamond trading network RapNet will launch an upgraded platform Jan. 9, 2018. The upgrade will provide members with a more secure, more intuitive and smarter trading environment. It is the first step in a $5 million Rapaport and RapNet development project intended to revolutionize the electronic market for diamonds.

This first phase upgrade will significantly increase security by providing exclusive communications between RapNet members. New RapNet technology provides an alternative to the use of emails that are often hacked and used to misdirect diamond payments and shipments. With electronic fraud a growing and prevalent threat in the diamond industry, this significant change is essential to ensure RapNet members can trade in a secure and safe environment.

With RapNet members initiating over 1 million trades a year, the new user interface will also enable members to directly negotiate online. Searches will run faster and smarter with more features.

“RapNet is introducing new technology that will provide a safe and secure trading environment for our members. We are investing millions of dollars in new electronic infrastructure that will usher in a new era of diamond trading,” said Saville Stern, chief operating officer of RapNet.

Learn more at www.rapnet.com/newrapnet.

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