Ripple Enables $280M Diamond Tokenization on XRPL

Billiton Diamond has partnered with Ctrl Alt to tokenize $280 million worth of polished diamonds on XRPL, supported by Ripple.
The project will embed certification data and real-time inventory information, enabling approved parties to verify origin and ownership history.

Billiton Diamond, a diamond management and auction services company based in Dubai, is set to tokenize AED 1 billion ($280 million) worth of polished diamonds held in the UAE on the XRP Ledger (XRPL).

Billiton has partnered with Ctrl Alt to bring the precious metals onchain. Ctrl Alt is a London-based tokenization platform whose technology has been used by startups, enterprises and governments to tokenize real-world assets. By end of January, the company had tokenized over $850 million in RWA assets.

Billiton says it will lead the project, exploring how else it can use tokenization to cut costs and boost efficiency. It will launch a new platform that will embed the diamonds’ certification data and real-time inventory management information on the on-chain representations. This will enable any stakeholder along the supply chain to verify the diamonds’ origin, grading and ownership history on XRPL.

Further down the line, Billiton intends to list tokenized diamonds on primary and secondary markets, opening up access to both retail and institutional traders. As our detailed guide explains, tokenization allows the fractional ownership of any asset, which is critical for retail participation. A carat of diamond can cost as much as $10,000, which is beyond the reach for many retail investors. However, once tokenized, they can purchase the size of diamond that fits within their budget and later sell these tokens when the price rises.

Diamonds on XRPL

Announcing the new partnership, the head of Middle East and Africa at Ripple, Reece Merrick, described it as “a significant leap forward for the future of commodities tokenization.”

“This initiative shows how Ripple’s technology can bridge the gap between physical assets and the digital economy, utilising our enterprise-grade custody solution to secure high-value diamond assets with unrivalled trust and security,” he commented.

Ripple is proud to support Billiton Diamond and @CtrlAltCo who have tokenized over AED 1 billion ($280m) of certified polished diamonds on the XRPL.

This initiative shows how @Ripple‘s technology can bridge the gap between physical assets and the digital economy, utilising our…

— Reece Merrick (@reece_merrick) February 3, 2026

The global diamond market was worth an estimated $102 billion last year, and is projected to add $4 billion in value this year and shoot to $153 billion by 2034. Attracting this market to tokenize on its network, XRPL can significantly boost the value of assets on its blockchain.

Billiton Diamond owner Jamal Akhtar commented:

This partnership transforms polished diamonds from a traditionally illiquid asset class into a transparent, investable digital asset that supports manufacturers, brands, and investors alike. Tokenization introduces an unprecedented level of transparency, unlocking the potential for new liquidity, shortening working capital cycles for manufacturers and traders, and opening the door to seamless global participation in Dubai’s growing luxury ecosystem.

The partnership expands XRPL’s global presence and comes just a day after Ripple obtained an EMI license to issue electronic money across the EU, as we reported.

XRP trades at $1.6, dipping 15% in the past week as the markets were hit by macro uncertainties and a liquidity crunch.

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