Unicoin acquires controlling stake in SLC’s Diamond Lake Minerals

Unicoin Inc., a New York City-based digital currency platform, has acquired a 51 percent stake in Diamond Lake Minerals Inc., a Salt Lake City company specializing in the development of digital assets and SEC-registered security tokens. 

Concurrently, the company will rebrand as DiamondLake Inc. to reflect its ongoing expansion and strategic focus on digital assets. 

Unicoin said DiamondLake Inc. plans to expand into the digital asset treasury business, inspired by the success of models like Strategy Inc. Acting on the projected growth of the alt-coin market, DiamondLake aims to implement strategies to secure significant stakes in emerging alt-coins, the company said in its announcement release.

“Strategy Inc. has spent over $40 billion on purchasing bitcoins to achieve its current $106 billion valuation,” said Alex Konanykhin, CEO of Unicoin. “We believe that the same results can be achieved much more cost-efficiently in the alt-coin segment, given the progress with the Stablecoin Act and other positive legislative regulatory developments.”

“I’ve admired Unicoin’s leadership and strategy for years, and today marks a historic moment as our companies unite to shape the future of tokenization,” said Diamond Lake CEO Brian J. Esposito. “Together with Unicoin, our combined resources, expertise and vision will enable us to achieve remarkable things and demonstrate the true potential of tokenization to the world.”

The transaction and rebranding are expected to close in the third quarter of 2025.