As of February 3, 2026, Billiton Diamond, in partnership with tokenization technology provider Ctrl Alt, has successfully tokenized more than AED 1 billion, or $280 million, of certified polished diamonds on the XRP Ledger, representing what is potentially one of the largest tokenization deals in the UAE in the commodities space.
The project utilizes Ripple’s enterprise custody system to protect digital ownership documents as it prepares the diamonds for possible trading on regulated digital markets. Before the project is made available to the public, the project must first seek approval from the Virtual Assets Regulatory Authority (VARA) in Dubai.
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Dubai Pushes Commodity Trading On-Chain
Billiton Diamond, well-known for their Vickrey auction method for trading rough diamonds, is looking to enter the tokenized polished diamond market with a focus on increasing market transparency and efficiency. Ctrl Alt provided a complete solution to tokenize UAE-based partner diamonds.
Tokens representing ownership of diamonds were created on the XRP Ledger due to its cost efficiency and speed. This technology integrates certification, grading, and inventory information into the blockchain, so that participants can verify authenticity and ownership before making any deals.
According to industry officials, this could help simplify the trading of diamonds, which has been plagued by problems that have made it feel illiquid.
Institutions Accelerate Real World Asset Tokenization
The project aligns well with the UAE regulations on digital assets, developed in accordance with the regulations under VARA, while also fitting in with Dubai’s strategy for attracting blockchain-based financial systems. Plans for the project include the facilitation of secondary market trading for the diamonds after the required approvals have been obtained.
One of the trends that market watchers point out is the increasing tokenization of real-world assets, including commodities, bonds, and real estate, as more institutions use blockchain technology to make these assets more liquid and easier to trade.
Why This Matters
The tokenization of diamonds on the XRP Ledger increases liquidity, transparency, and accessibility for investors. This allows the global commodity market to trade diamonds securely today on a regulated blockchain.
With the advent of institutions adopting XRP Ledger for tokenizing real-world assets, the pace of digital finance innovation is accelerating, opening new investment opportunities in emerging, regulated markets for participants worldwide.
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