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
XRP Ledger Plans to Become Native DeFi Lending Powerhouse - U.Today
The XLS-66 proposal aims to enhance the XRP Ledger with native lending and borrowing capabilities, allowing users to earn returns on idle capital. For activation, it requires 80% validator approval, currently lacking sufficient support.
UToday4h ago
Here’s Where Ripple’s XRP Price Could Be Headed This Week
The crypto market opened the week sliding again, and the XRP price moved lower alongside the broader sell-off. Bitcoin spot ETFs recorded $348.83 million in net outflows on March 6, data from SoSoValue shows, adding more weight to the risk-off sentiment.
However, rising tensions in the Middle
CaptainAltcoin5h ago
Price Predictions 3/6: BTC,ETH,BNB,XRP,SOL,DOGE,ADA,BCH,HYPE,XMR
Bitcoin (CRYPTO: BTC) faced a renewed test after a brief relief rally, sliding back below the $68,500 mark as sellers reasserted control. The move comes after the asset briefly flirted with the $74,000 threshold, a level that previously functioned as a ceiling during the latest ascent. Traders now e
CryptoBreaking10h ago
Outflows from the XRP ETF reach $16.6 million as the XRP price stays at $1.36
Funds withdrawn from XRP ETF funds unexpectedly turned negative at the end of the first trading week of March, ending the promising growth streak of spot XRP funds in the US. After three consecutive sessions of inflows, these products shifted to a net outflow on Thursday and t
TapChiBitcoin11h ago
Ripple’s Global Payments Expansion Strengthens XRP’s Institutional Role
Ripple’s global payments network is rapidly expanding as financial institutions increasingly seek full-service blockchain infrastructure partners, positioning Ripple’s ecosystem and XRP liquidity framework at the center of next-generation cross-border finance.
Ripple’s Expanding Payments Network
Coinpedia11h ago
