TL;DR
- Billiton Diamond and Ctrl Alt tokenized more than $280M in certified diamonds on the XRPL, representing over AED 1 billion in assets held in the UAE.
- Ctrl Alt handles end-to-end tokenization, XRPL and Ripple provide institutional-grade custody, and Billiton supplies the physical assets and commercial structure.
- The XRPL hosts the tokens and integrates certification and ownership data.
Billiton Diamond and Ctrl Alt executed the tokenization of more than $280 million in certified polished diamonds on the XRP Ledger (XRPL). The tokenized inventory represents over AED 1 billion in diamonds, held in the United Arab Emirates and sourced from Billiton-approved partners. The tokens have already been minted onchain, and the structure is operational within the jurisdiction.
Billiton Diamond provides the physical assets and the commercial framework tied to the polished diamond market. Ctrl Alt acts as the technology provider and executes the full tokenization process, from the digital representation of the asset to its preparation for use in financial environments. Ripple participates through its institutional-grade custody technology, securing the tokenized assets under standards designed for large-scale operations.
XRPL: Speed, Efficiency, and Scalability
The tokens were issued on the XRPL. The network was selected for its fast settlement times, low operating costs, and ability to scale high-volume activity. The XRPL infrastructure integrates certification, origin, grading, and ownership data directly onchain, allowing each asset to be verified before any transfer or transaction.
Billiton is developing a platform that centralizes real-time inventory management and immutable certification tracking. The system was designed to support the listing of tokenized diamonds on primary and secondary markets, subject to the relevant regulatory approvals. In the next phases of the project, custody, transfer, and secondary-market trading readiness functionalities will be added.
Ctrl Alt brings experience from tokenizing more than $850 million in assets, including real estate, credit, and funds. In this initiative, the company completed the onchain conversion of the initial inventory and plans to continue expanding the system’s capabilities across the asset’s lifecycle.
DMCC acted as the institutional coordinator for the project, connecting participants and providing the sector framework required for diamond tokenization. The Virtual Assets Regulatory Authority (VARA) oversees the regulatory framework and will assess the approvals required for the next operational stages
