Billiton Diamond and Ctrl Alt have achieved an important milestone in the digitization of real assets by bringing $280 million in Dubai diamond inventory onto the blockchain. Using the XRP Ledger infrastructure and the custody technology developed by Ripple, the two companies have issued digital tokens that represent and guarantee these physical diamonds, enabling secure and transparent transfers on the blockchain.

The initiative highlights the versatility of the XRP Ledger to support not only native digital assets but also tangible goods from the real world. This implementation of tokenized diamonds opens new possibilities for other luxury markets and high-value assets. Currently, the project is awaiting final approval from Dubai’s Virtual Asset Regulatory Authority, a crucial step that would validate the regulatory framework for this type of operation.

The use of diamonds as a basis for backed tokens demonstrates how blockchain technology is transforming traditional sectors, offering greater efficiency in verifying authenticity, ownership, and liquidity of tangible assets that have historically been difficult to fractionalize and trade digitally.