- Ripple, Billiton, and Ctrl Alt move $280M in diamonds onto XRPL, making trading faster, secure, and transparent.
- Tokenization turns illiquid diamonds into investable digital assets, shortening working capital cycles for traders and brands.
- Dubai strengthens its role as a hub for luxury commodities and blockchain innovation, supported by DMCC and VARA.
A groundbreaking collaboration is transforming the diamond industry as Billiton Diamond and Ctrl Alt move over AED 1 billion ($280 million) of polished diamonds onto the XRP Ledger (XRPL). This initiative leverages Ripple’s enterprise-grade custody technology to secure high-value diamond assets while bringing transparency and efficiency to commodity trading.
The initiative, which is based in the UAE, seeks to fill the gap between physical diamonds and the digital economy by allowing stakeholders to verify ownership, grading, and certification information before any transaction takes place.
Apart from ensuring the security of the assets, the platform also brings about real-time inventory management and blockchain verification. Billiton Diamond, a major player in the auctioning of rough diamonds through its Vickrey auction model, is also looking into new ways of conducting tokenized sales of polished diamonds.
Ctrl Alt handles end-to-end tokenization of the $280 million inventory, while Ripple ensures enterprise-grade security. Consequently, the initiative positions Dubai as a leading hub for both luxury commodities and digital asset innovation.
How Tokenization Changes Diamond Trading
Tokenization converts polished diamonds from physical illiquid assets into digitally accessible investments. Jamal Akhtar, Joint Owner of Billiton Diamond, stated, “Tokenization creates an unprecedented level of transparency, unlocking new liquidity and shortening working capital cycles for manufacturers and traders.” In this manner, manufacturers, brands, and investors can participate seamlessly in Dubai’s luxury market.
Moreover, Ctrl Alt’s robust tokenization infrastructure allows diamonds to move on-chain securely and compliantly. Robert Farquhar, CEO of Ctrl Alt MENA, emphasized, “Our proven technology provides a clear route for diamond ownership to move on-chain, from asset origination to digital market participation.” The XRPL was chosen for its fast settlement, low fees, and scalable architecture, making it ideal for high-value commodities.
The role played by DMCC in linking stakeholders and offering guidance was also significant in association with the Virtual Assets Regulatory Authority (VARA). Ahmed Bin Sulayem, the Executive Chairman and CEO of DMCC, said, “Through the infrastructure and partnerships we have developed, we are creating frameworks for industry leaders to apply digital innovation to the physical diamond trade.”
