GIA acquires 30% stake in Tracr

The Gemological Institute of America (GIA) has signed a definitive agreement to acquire a 30% shareholding in Tracr, the blockchain-driven diamond provenance platform backed by De Beers Group. 

The move follows a 2023 collaboration that integrated Tracr’s provenance data into eligible GIA diamond grading reports.

The investment is designed to accelerate Tracr’s evolution into an independent infrastructure for the global diamond sector. 

Since its launch in 2018, Tracr has registered more than five million rough diamonds at the source, accounting for approximately two-thirds of De Beers’ production by value. 

From January 2025, the platform has provided a single country of origin for all newly sourced De Beers rough diamonds weighing one carat or more.

Tracr functions as a distributed ledger that tracks a diamond’s journey from the point of recovery through to the final polished stone. 

By opening the platform to the wider industry in 2023, De Beers and GIA aim to establish a digital standard for verifying the “unique story” and craftsmanship behind every registered stone.

Al Cook, CEO of De Beers Group, said: “Consumers deserve to know where their diamonds come from. Following our promise to open Tracr up to broad ownership, we are proud to be partnering with GIA as Tracr evolves into an independent, industry-wide platform.”

Pritesh Patel, President and CEO of GIA, added: “Combining source-based blockchain provenance with GIA’s independent grading expertise can help unlock a new level of transparency for the diamond industry. We see a tremendous opportunity to deliver meaningful, verifiable provenance information from the source to the consumer.”

Jillian Wolk, CEO of Tracr, concluded: “I am excited to continue scaling the platform and bringing more producers on board. Each stone carries its own narrative, and as Tracr continues to grow, we have a fantastic opportunity to help reveal those unique stories.”