Billiton Diamond and tokenization technology company Ctrl Alt announced that they have completed a diamond asset on-chain project in the UAE worth over $280 million, mapping certified polished diamonds to on-chain tokens, with enterprise-level custody support provided by Ripple, and issuance and transfer completed on the XRP Ledger. This move marks a significant step forward for the Middle East in the field of physical asset tokenization.
The two companies revealed that more than 1 billion dirhams worth of diamond inventories have been digitally mapped so far, with tokens corresponding one-to-one to physical inventories, secured through a custody structure. The solution not only improves settlement efficiency but also enhances traceability of diamond sources and ownership, providing a higher level of transparency for institutional participants.
However, whether the project can enter a broader market stage still depends on approval from the Dubai Virtual Assets Regulatory Authority (VARA). Any future releases aimed at more investors must be carried out within a compliant framework. Ctrl Alt stated that the project is currently in a controlled pilot phase, with plans to gradually improve custody, transfer, and secondary market readiness.
Unlike traditional commodity tokenization, this model positions Ripple as a provider of underlying infrastructure rather than a market matching platform. Industry insiders point out that the real challenge lies not in the token issuance itself but in achieving stable pricing, low spread circulation, and clear redemption pathways. The project team has not disclosed specific plans regarding minimum trading units, per-token pricing, or redemption mechanisms.
Dubai Multi Commodities Centre (DMCC) stated that it is connecting industry stakeholders to foster the formation of a commodity RWA ecosystem. As the UAE accelerates its layout of digital assets and physical assets integration, such high-value commodity on-chain cases could become an important pillar in the Middle East’s fintech landscape.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Unaffected by Crypto Market Downturn! Ripple Spends $750 Million on Stock Buyback, Company Valuation Soars to $50 Billion
Ripple launched a stock buyback program, driving valuations to $5 billion, solidifying its position at the forefront of the cryptocurrency industry. The buyback will repurchase up to $750 million in stock through a tender offer. The company is actively expanding its business, evolving from a cross-border settlement tool to comprehensive digital asset infrastructure, while attracting multiple top-tier institutional investors.
区块客13m ago
Why Many XRP Holders Are Quietly Losing Money Without Knowing It
Plenty of XRP holders think the hard part is simply buying early and waiting long enough. Levi’s latest YouTube video argues that this mindset can quietly cost people serious money over time, not because XRP price fails to move, but because idle crypto earns nothing when it sits untouched.
Lev
CaptainAltcoin1h ago
XRP Volatility Builds as Bollinger Bands Tighten Near $1.38
Key Insights
XRP Bollinger Bands tighten near $1.38, signaling growing volatility pressure as traders watch for a breakout after several sessions of price consolidation.
Trading activity increased sharply as volume rose above $2.8 billion despite price decline, indicating rising
CryptoFrontNews1h ago
XRP Holds Near $1.38 as Ripple Moves to Secure Australia License
Key Insights
Ripple plans to acquire BC Payments Australia to obtain an AFSL license, strengthening its regulatory presence and payments infrastructure
XRP trades near $1.38 while facing resistance at $1.40 as
CryptoFrontNews1h ago
XRP ETFs See Just Nine Red Days Since Launch as Goldman Sachs Leads Holdings
Spot XRP ETFs have recorded a net outflow of just 9 days since their launch at the start of November; cumulative net inflows hit $1.4 billion.
At the end of 2025, Goldman Sachs held $154 million worth of the ETFs, topping the list of the 30 largest holders.
Spot XRP exchange-traded funds hav
CryptoNewsFlash2h ago
