Dubai's map is redefined with the tokenization of $280 million in diamonds on XRP Ledger

Dubai continues to position itself as a global hub for digital asset innovation. In this vein, Billiton Diamond and Ctrl Alt have recently completed the tokenization of a $280 million inventory of diamonds directly on the XRP Ledger infrastructure. This operation marks a significant milestone in the practical application of blockchain technology for high-value physical assets.

The custody technology behind the project

According to NS3.AI analysis, the project implements the custody solution developed by Ripple, enabling the secure issuance and transfer of tokens fully backed by diamonds. This mechanism ensures that each token maintains a direct correspondence with verified physical inventory, combining blockchain transparency with security in holding the underlying asset.

Integration into Dubai’s regulatory ecosystem

The initiative is currently awaiting formal approval from Dubai’s Virtual Asset Regulatory Authority, reflecting the local authorities’ commitment to establishing clear frameworks for tokenization operations. This regulatory recognition reinforces the jurisdiction’s position as a preferred destination for traditional asset tokenization projects.

Implications for the global digital assets map

The success of this diamond tokenization demonstrates the growing potential of the XRP Ledger as an infrastructure for securitizing physical assets. Dubai’s experience sets precedents for additional sectors, from precious metals to real estate, progressively redefining the opportunities landscape in the tokenized economy. These developments show that asset digitization is already transcending speculative borders toward real applications with tangible value.