Ripple-Backed Diamond Tokenization on XRP Ledger Ushers in $280M Dubai Initiative
In a groundbreaking move for the diamond and digital asset markets, over AED 1 billion ($280 million) in polished diamonds has been tokenized on the XRP Ledger.
The Billiton Diamond and Ctrl Alt partnership uses Ripple’s enterprise-grade custody technology to securely issue and transfer these assets on-chain, marking a major step toward mainstream commodity tokenization.
Billiton Diamond, famed for its Vickrey auction model in rough diamonds, is now breaking ground with tokenized polished diamond offerings. In partnership with Ctrl Alt, Billiton’s approved inventory has been fully tokenized, with each token carrying real-time verification of grading, certification, and provenance.
Therefore, this blockchain-based system allows investors to trace every stone’s origin and ownership history, merging transparency, security, and efficiency in diamond trading.
$280M in Diamonds Go Digital
The initiative places Billiton at the cutting edge of diamond investment and showcases Ctrl Alt’s rising leadership in commodities tokenization.
By digitizing diamonds, investors gain transparent, streamlined access to both primary and secondary markets, boosting liquidity, efficiency, and auditability throughout the diamond lifecycle, all under the regulatory oversight of the UAE’s VARA.
Reece Merrick, Managing Director, Middle East & Africa at Ripple, welcomed the move, stating,
“The potential of tokenization relies on enterprise-grade trust and security. As Billiton Diamond and Ctrl Alt move $280 million in diamond inventory onto the XRPL, our custody technology provides the rigorous security required to manage these assets at scale, proving that high-value physical assets can be moved on-chain with absolute confidence.”
Ripple’s XRP Ledger was selected for its fast settlements, low fees, and scalable architecture, key for transferring high-value assets on-chain. Combined with Ripple’s secure custody solution, physical diamonds stay protected while their digital twins move globally in near real-time.
The Dubai Multi Commodities Centre (DMCC) has been pivotal in driving the project, connecting stakeholders and building an ecosystem capable of large-scale diamond tokenization. Its role highlights Dubai’s emergence as a global hub for digital assets and commodities innovation.
Future phases will enhance lifecycle functionalities, including secondary market access, custody, and transfer mechanisms, bridging traditional diamond trading with blockchain-enabled financial markets. This initiative sets a new standard for tokenized commodities, showcasing how regulated, blockchain-backed infrastructures can improve transparency, efficiency, and accessibility in luxury assets.
With $280M in diamonds now live on-chain, the combination of XRPL technology, institutional-grade custody, and Dubai’s regulatory framework is redefining the potential of tokenized commodities worldwide.
Conclusion
The $280 million diamond tokenization project on the XRP Ledger represents a landmark shift for both the diamond and digital asset markets. Leveraging Ripple’s secure custody, real-time blockchain verification, and VARA’s regulatory oversight, it showcases how high-value commodities can be digitized with transparency and efficiency.
Beyond boosting liquidity and accessibility, the initiative paves the way for institutional-grade investment in tokenized assets, bridging physical markets with blockchain innovation. As Dubai emerges as a global hub for digital asset trading, this collaboration sets a blueprint for transforming investment, ownership, and market dynamics worldwide.
Source: https://coinpaper.com/14288/xrp-ledger-makes-sparkling-strides-diamonds-tokenized-in-the-uae