- $280 million in certified diamonds tokenized on XRP Ledger with Ripple’s support.
- The project is now live in the UAE, backed by Dubai’s VARA and DMCC.
- This brings the precious physical diamonds to the XRPL as digital assets.
Ripple, a prominent player in the blockchain-based payments ecosystem, is now helping turn physical diamonds into digital assets on the XRP Ledger (XRPL). In collaboration with Ripple, Billiton Diamond and Ctrl Alt have tokenized a $280 million batch of certified diamonds on the XRPL. With this move, the platforms intend to bring more transparency and accessibility to the high-value diamond market.
The tokenization platform is now reportedly live in the UAE. It uses Ripple’s enterprise-grade technology to secure the digital tokens. Billiton’s verified diamonds are now represented on-chain, with features like real-time inventory tracking and immutable certification. This strategic move is backed by Dubai regulators, who are helping ensure the infrastructure is in place for trading these previously hard-to-track assets.
Diamonds Enter the Crypto Space via Ripple
In a press release today, tokenization provider Ctrl Alt announced its strategic partnership with Billiton Diamond and Ripple to tokenize physical diamonds. With this collaboration, the platforms have tokenized over AED 1 billion, translated to $280 million, of certified diamonds in the UAE.
Reportedly, these physical diamonds are tokenized on the XRP Ledger. This marks one of the largest movements of physical luxury onto a blockchain. As per the report, Ripple, Billiton Diamond, and Ctrl Alt have teamed up to bring the ancient diamond market into the digital age. This creates a system where high-value gems can be tracked, verified, and traded as digital tokens.
Jamal Akhtar, Joint Owner of Billiton Diamond, stated,
“This partnership transforms polished diamonds from a traditionally illiquid asset class into a transparent, investable digital asset that supports manufacturers, brands, and investors alike. Tokenization introduces an unprecedented level of transparency, unlocking the potential for new liquidity, shortening working capital cycles for manufacturers and traders, and opening the door to seamless global participation in Dubai’s growing luxury ecosystem.”
The platform, now live in the UAE, is using Ripple’s enterprise-grade custody technology. With this partnership, the tokenized diamonds can benefit from secure storage, real-time inventory management, and immutable certification tracking. This makes the traditionally opaque diamond market much easier to monitor and trade.
Regulatory Support Boosts Tokenized Diamond Project
Dubai’s DMCC and VARA have set the regulatory framework for the project. The regulators intend to ensure the infrastructure is compliant and functional. The plans include listing tokenized diamonds on both primary and secondary markets, opening up previously hard-to-access assets to investors while maintaining transparency and security on the blockchain.
“This initiative reinforces DMCC’s role as the bridge between commodities, capital and next-generation digital markets,” stated DMCC Chairman Ahmed Bin Sulayem. He added,
“Through the infrastructure and partnerships we have developed, including recently with VARA, we are creating the frameworks for industry leaders such as Billiton Diamond and Ctrl Alt to apply digital innovation to the physical diamond trade and to advance the wider tokenization of high-value commodities in a manner that is secure, scalable and trusted.”
Ripple’s Reece Merrick hails the project a “significant leap forward” in turning physical commodities into digital assets. As he noted, the latest move represents a full-scale transformation from physical diamonds to tokenized investments, covering custody, compliance, and market readiness.
This makes physical diamonds more accessible to investors. What was once a precious physical stone in a Dubai vault is now a verified token on Ripple’s XRP Ledger.
