A major real-world asset tokenization initiative has moved over $280 million worth of certified polished diamonds on-chain in the United Arab Emirates, leveraging the XRP Ledger (XRPL) and Ripple’s custody technology, according to multiple reports. The project — led by Billiton Diamond and tokenization platform Ctrl Alt — marks a significant milestone in linking high-value physical commodities with blockchain infrastructure.
Transforming Diamonds Into Digital Tokens
Under the pilot effort, more than AED 1 billion (approximately $280 million) in certified polished diamond inventory held in the UAE has been digitally represented as tokens on the XRP Ledger. Each digital token corresponds to a specific physical diamond, including provenance and certification details, enabling faster transfers and greater transparency compared with traditional manual processes.
The initiative uses Ripple’s enterprise-grade custody technology to secure tokenized assets, while XRP Ledger provides the low-cost, high-speed blockchain settlement layer for issuing and transferring the tokens. Ripple’s role focuses on infrastructure and custody support, rather than operating a trading marketplace itself.
A Dubai-Backed Institutional Pilot
The tokenization project — developed in the United Arab Emirates — is positioned as a high-value, institutional-grade tokenized asset pipeline for polished stones. While the initial phase has successfully tokenized a large inventory, broader public access and secondary market trading will remain subject to regulatory approval by the Virtual Assets Regulatory Authority (VARA) and associated authorities in Dubai.
Government-linked hubs like the Dubai Multi Commodities Centre (DMCC) have supported the initiative, signaling institutional interest in real-world asset (RWA) tokenization within regulated frameworks.
Why Blockchain for Real-World Assets Matters
Tokenizing physical commodities such as diamonds aims to enhance transparency, speed settlement and reduce paperwork relative to traditional trading methods. Token holders can verify details like origin, certification and ownership through on-chain records, offering greater trust and auditability.
Furthermore, the success of this diamond project contributes to broader momentum around real-world assets on the XRP Ledger. In 2025 alone, the total value of tokenized RWAs on XRP Ledger reportedly surged, underscoring how commodities and financial instruments are increasingly finding on-chain representation.
Industry Impact and Future Outlook
While this diamond tokenization effort remains in controlled pilot stages, observers see it as an important test case for high-value asset digitization on public blockchains. If fully rolled out — including through secondary markets — it could help pave the way for tokenization of other luxury goods, commodities and financial instruments in regulated environments.
As real-world asset tokenization grows, projects like this highlight the potential of blockchain technology to modernize traditional markets with enhanced liquidity, traceability and compliance.
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