Key Highlights Billiton Diamond tokenizes $280M in polished diamonds on XRPL, making ownership transparent and easier to trade on blockchain. Ctrl Alt handles digital conversion, while Ripple secures assets, showing blockchain can streamline high-value commodity trading. Ripple’s XRPL and RLUSD support fast, low-cost, and regulated digital finance, bridging DeFi and institutional markets. Dubai is seeing a major change in the diamond and digital asset markets. Billiton Diamond in collaboration with tokenization provider Ctrl Alt, has turned over AED 1 billion ($280 million) of certified polished diamonds into digital tokens on Ripple’s XRP Ledger (XRPL). According to the announcement made by Ctrl Alt, the purpose of the project is to simplify diamond investment and make it more transparent by using blockchain technology and professional-grade systems. The project also marks the beginning of a new era of commodity tokenization in the United Arab Emirates (UAE). Billiton Diamond, which is famous for its Vickrey auction system for rough diamonds, has now started to consider tokenized sales for polished diamonds. The process of converting Billiton’s approved inventory into digital tokens is managed by Ctrl Alt. Ripple will provide the technology to securely store these digital diamond assets. This partnership places Billiton in the digital diamond market and Ctrl Alt in commodity tokenization. Blockchain meets diamonds The tokenized diamonds will include real-time inventory and certification details, so buyers can easily check each stone’s grading, origin, and ownership before buying. Consequently, everyone involved gains greater transparency and smoother operations throughout the diamond lifecycle. Additionally, Billiton plans to offer these diamonds on both primary and secondary markets in the future, once approved by the Virtual Assets Regulatory Authority (VARA). Robert Farquhar, CEO, MENA at Ctrl Alt, emphasized the scale of this transformation: “Billiton needed robust, institutional-grade infrastructure to handle the complexity and scale of its polished diamond supply. Our proven tokenization expertise provides a clear, secure, and compliant route for diamond ownership to move on-chain.” This statement underscores how blockchain solutions now provide efficiency in traditionally illiquid markets. Moreover, DMCC also played an important role by connecting all the stakeholders and creating an ecosystem for the tokenization of diamonds. Ahmed Bin Sulayem, the Executive Chairman and CEO of DMCC, commented, “We are creating the frameworks for industry leaders such as Billiton Diamond and Ctrl Alt to apply digital innovation to the physical diamond trade.” This statement further supports the idea of Dubai as the hub for commodities as well as the next-generation infrastructure for blockchain technology. Ripple’s strategic role Ripple’s XRPL technology is built for speed, cost-effectiveness, and scalability, which are all important requirements for managing expensive assets like diamonds. Reece Merrick, Managing Director at Ripple, explained: “As Billiton Diamond and Ctrl Alt move $280 million in diamond inventory onto the XRPL, our custody technology provides the rigorous security needed to manage these assets at scale.” Apart from security, Ripple’s technology also ensures that the transfer of assets is transparent, traceable, and efficient in nature. The project also fits into Ripple’s bigger plan for tokenized financial products. Recently, the XRP Ledger supported Digital Commercial Paper (DCP) from Guggenheim Treasury Services, worth over $280 million. Ripple is investing $10 million into DCP to make on-chain debt trading faster, regulated, and secure. RLUSD, Ripple’s stablecoin, also strengthens XRPL’s role as a bridge between DeFi and institutional finance, with a total supply of $1.35 billion across multiple chains. Also Read: Tether Unveils Open-Source Mining OS and SDK at Plan ₿ Forum 2026