Golden Finance reported that Avalanche announced on the Created by Diamond Standard Commodities and Horizon Kinetics, it initiated the adoption of the ERC-3643 token standard. It is a licensed token tailored for tokenized assets. The smart contract is open source and allows issuance, management and transfer. John Wu, president of Ava Labs, the Avalanche ecosystem development organization, said that tokenizing diamonds and providing exposure through the fund structure on Avalanche is a classic example of how blockchain can bring transparency and efficiency to the asset class.