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Billiton Diamond and tokenization platform Ctrl Alt have moved more than $280 million (AED 1 billion) worth of certified polished diamonds onto the blockchain inBilliton Diamond and tokenization platform Ctrl Alt have moved more than $280 million (AED 1 billion) worth of certified polished diamonds onto the blockchain in

UAE Tokenizes $280M in Diamonds With Ripple Custody and XRPL

Author: Ethnews

Source: Ethnews

2026/02/03 18:15

2 min read

Billiton Diamond and tokenization platform Ctrl Alt have moved more than $280 million (AED 1 billion) worth of certified polished diamonds onto the blockchain in the United Arab Emirates, marking a major milestone for real-world asset (RWA) tokenization.

The initiative places physical diamond inventory on-chain while maintaining secure custody of the underlying assets in the UAE. The project aims to modernize how diamonds are financed, held, and traded by introducing blockchain-based transparency and efficiency.

Infrastructure and Blockchain Framework

The tokenized diamonds are secured using Ripple’s enterprise-grade custody technology. Ripple’s custody services recently obtained a full license from the Dubai Financial Services Authority (DFSA), enabling regulated digital asset custody within the Dubai International Financial Centre.

Digital tokens representing the diamonds are minted on the XRP Ledger, providing the underlying blockchain infrastructure for issuance and tracking.

Regulatory Path and Market Access

While the certified diamond inventory has already been placed on-chain, broader distribution and secondary market trading remain subject to final regulatory approval from Dubai’s Virtual Assets Regulatory Authority (VARA). This approval will be required before tokenized diamonds can be traded more widely or accessed by additional market participants.

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Strategic Objective

The primary goal of the initiative is to transform traditionally illiquid diamonds into a transparent, institutional-grade investable asset. By tokenizing physical inventory, the project seeks to shorten capital cycles for manufacturers and traders, improving liquidity and operational efficiency across the diamond supply chain.

Broader Context

The development aligns with Ripple’s broader expansion in the Middle East and its focus on institutional-grade custody and compliance solutions. This includes Ripple’s 2024 acquisition of Standard Custody & Trust Company, which strengthened its regulated custody capabilities.

With over $280 million in diamonds now represented on-chain, the project highlights the growing role of blockchain technology in reshaping real-world asset markets under regulated frameworks.

The post UAE Tokenizes $280M in Diamonds With Ripple Custody and XRPL appeared first on ETHNews.

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