Institutional investors are being offered a new route into the gemstone market through a tokenized product backed by physical emeralds, under a partnership announced Wednesday between Swiss fintech GEMx and digital asset custodian Zodia Custody.
The product, known as EmGemX, offers fractional ownership in a portfolio of high-quality emeralds stored in secure vaults and independently appraised. According to GEMx, the emeralds delivered an average annual appreciation of around 9%.
Zodia, backed by Standard Chartered and Japan’s SBI Holdings, will provide regulated custody services for the tokenized assets. The firm is registered with the UK’s Financial Conduct Authority and specializes in institutional-grade safekeeping of digital assets.
“Partnering with Zodia Custody is a major milestone in our mission to bring institutional trust and stability to the gemstone investment market,” said Paul Poltner, chief executive and co-founder of GEMx.
The initiative comes as financial institutions increasingly explore the tokenization of real-world assets — a trend gaining traction across private credit, real estate, and commodities. By linking a digital token directly to tangible goods, proponents argue that blockchain-based infrastructure can improve transparency, liquidity, and access to traditionally illiquid markets.
“With GEMx, we’ve built a framework that delivers real-world value through digital innovation — secure, auditable, and historically resistant to inflation,” Poltner added.
GEMx said its emeralds are sourced from vetted suppliers and held under strict custody conditions. The EmGemX token is backed one-to-one by the underlying stones, with all ownership and transaction records maintained on-chain.
While fractional ownership of gemstones is not new, the move to combine this with institutional-grade custody and blockchain record-keeping may appeal to investors seeking portfolio diversification amid macroeconomic uncertainty.
Since its inception in 2020, Zodia Custody has been helping financial institutions in the secure storage and management of their cryptocurrency assets. The custodian has been on a rapid expansion trajectory in Asia. The firm launched its services in Japan, Singapore, and Australia, with Hong Kong being the latest addition to this list.
Julian Sawyer, CEO of Zodia said that the demand for crypto in these markets is institution-driven—a perfect match for Zodia’s client profile.
Zodia Custody has recently inked a partnership with tokenization platform Securitize. The collaboration provides institutional investors with compliant custody solutions for tokenized assets, including BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL).
