New Zealand-based diamond web solution provider MakWeb has launched a bitcoin-based auction site, which allows buyers and sellers to purchase and sell diamond jewelry.
MakWeb, which offers a range of diamond-related services, announced that the new marketplace will feature two types of diamond auctions: one for online buyers and one for the real-world buyer.
In the latter auction, buyers pay a fixed fee of about $100 per diamond to bid on the item, with sellers pay an average of about 1,000 yen ($17).
Mak Web also said it would offer a gold-backed option for sellers, with the buyer paying the gold equivalent of a 1.3-kilogram gold crown.
The service will be offered through MakWeb’s bitcoin marketplace, MakWeb.com.
Makweb said it was able to obtain the necessary licensing and regulatory approvals for the Bitcoin marketplace, which was launched last month.
According to MakWeb, the service allows sellers to accept bitcoin as a form of payment, and it is currently available in Japan and Singapore.
MakoWeb.jp also offers a similar service called MakWeb for buying and selling diamonds in Australia and the UK.
In addition to bitcoin, Mak Web has already started to provide other bitcoin-related tools, such as an auction system that allows buyers to sell diamonds and sellers a service to process payments.
Makin Web also operates a marketplace in the US, which is expected to launch soon.