Ripple-Backed $280M Diamond Tokenization Hits XRPL

3rd January 2026 – Ripple has officially supported a large-scale RWA tokenization initiative involving Ctrl Alt and Billiton Diamond. The project has minted over $280 million worth of certified polished diamonds on the XRP Ledger (XRPL).

What Assets Were Tokenized and Why This Is Important

The initiative focuses on certified polished diamonds stored and managed in Dubai. These assets include multiple collections that were tokenized in phases. Earlier settlements accounted for roughly $110 million, spread across several batches. Since then, the total tokenized value has grown past $280 million.

Traditionally, polished diamonds remain highly illiquid. Trading often requires long settlement cycles, extensive paperwork, and trusted intermediaries. By tokenizing this inventory, the project enables faster settlement, better transparency, and easier access for institutional buyers.

In addition, each token links to verified data such as grading, origin, and ownership history. This allows market participants to audit diamond inventory in real time rather than relying on manual verification.

How the Tokenization Infrastructure Works

The tokens are issued directly on the XRP Ledger. The network was selected because it offers low transaction fees, fast settlement times of two to three seconds, and native support for asset issuance.

Ripple provides enterprise custody infrastructure to secure the underlying physical diamonds. This custody layer ensures that token holders can verify ownership while maintaining compliance standards required by institutional users.

Meanwhile, Ctrl Alt manages the full token lifecycle. This includes minting, custody coordination, transfers, and preparation for future secondary market trading. Their infrastructure bridges physical storage with on chain representation, allowing diamonds to move digitally without leaving regulated custody.

Regulatory Structure and Dubai’s Role

Regulatory alignment sits at the center of this project. Ctrl Alt holds licenses from the UAE’s Virtual Assets Regulatory Authority as both a Broker Dealer and an Issuer. These approvals allow the company to operate legally within Dubai’s virtual asset framework.

The Dubai Multi Commodities Centre also plays a key role. DMCC supports commodity trading and connects tokenization providers with institutional buyers. Its involvement reinforces Dubai’s position as a global hub for digital commodity markets.

Looking ahead, the partners plan to launch a dedicated platform for primary and secondary diamond trading. Once fully approved, this platform could open global access to tokenized diamonds while shortening working capital cycles for traders.

Ripple And Other Companies Behind The Diamond Initiative

Billiton Diamond operates as a Dubai based auction house with more than twenty years of experience in diamond sales. The company is known for using a Vickrey auction model, which promotes price transparency. Through this initiative, Billiton is extending its auction expertise to polished diamonds in digital form. It operates independently and has no connection to BHP Billiton.

Ctrl Alt is a London based tokenization infrastructure provider. As of January 2026, the company has tokenized more than $850 million in assets across real estate and commodities. It has previously worked on XRPL based projects, including real estate tokenization in Dubai.

Ripple supplies both the blockchain infrastructure and custody technology. The company continues to position XRPL as a settlement layer for real world assets, alongside stablecoins and institutional finance tools.

Why This Matters for XRPL and Real World Assets

This project pushes XRPL further into the real world asset sector. With diamonds now added to its ecosystem, XRPL joins a growing group of blockchains hosting regulated tokenized commodities. The ledger now represents over $1.4 billion in tokenized value across multiple asset classes.

More broadly, the initiative reinforces Dubai’s leadership in digital asset regulation. It also demonstrates how commodities like diamonds can move toward faster settlement, lower friction, and global accessibility.

Industry forecasts suggest that real world asset tokenization could reach trillions in value by 2030. High value assets such as diamonds offer a compelling entry point due to their portability, durability, and existing global demand.

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What to Watch For Next

Several key developments could shape how this Ripple diamond tokenization initiative unfolds.

First, the launch of a regulated secondary market platform will be critical. If Ctrl Alt and Ripple secure final approvals from VARA, tokenized diamonds may soon trade globally, attracting institutional and retail investors. Watch for updates on this front in the coming months.

Second, further asset expansions are expected. Ctrl Alt has previously worked on real estate tokenization and may extend its XRPL pipeline to include gold, silver, or energy-based assets. Any such moves would solidify XRPL’s position in the broader real world asset (RWA) market.

Third, Ripple’s institutional custody services are now being battle-tested. Continued adoption by regulated partners could boost XRPL’s credibility as an enterprise-grade tokenization network.

Finally, token price dynamics remain an open question. If the project eventually introduces public-facing tokens or opens up access through exchanges or integrations, it could impact retail sentiment across the XRP ecosystem.

As tokenized commodities continue to scale, how well this diamond-backed effort performs could become a reference point for future RWA projects.