Dubai Brings $280M Worth of Diamonds on the Blockchain

The post Dubai Brings $280M Worth of Diamonds on the Blockchain appeared first on Coinpedia Fintech News

Dubai is taking a bold step in luxury and finance as Billiton Diamond and Ctrl Alt announce a new initiative to put polished diamonds on the blockchain. The project has already tokenized more than AED 1 billion (over $280 million) worth of certified diamonds held in the UAE, making it one of the largest real-world asset tokenization efforts to date.

The partnership aims to transform diamonds—traditionally illiquid and difficult to verify—into transparent, secure, and easily transferable digital assets. Ctrl Alt is responsible for converting the physical diamonds into blockchain-based tokens, while Ripple’s custody technology ensures ownership remains safe, auditable, and tamper-proof.

Dubai Brings Diamonds On-Chain

The tokenized diamonds are issued on the XRP Ledger (XRPL), chosen for its fast settlement speeds and low transaction costs—key advantages when handling high-value luxury assets. Each token is backed by a certified physical diamond stored securely in the UAE, with full traceability and real-time verification.

Billiton plans to launch a dedicated digital platform where buyers and sellers can view diamond inventory, certification records, and ownership details instantly. The platform may later enable regulated secondary trading, opening the door for improved liquidity and faster settlement for manufacturers, traders, and investors.

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DMCC has played a central role by connecting stakeholders and guiding the regulatory framework, reinforcing Dubai’s growing leadership in blending physical commodities with advanced financial technology.

Executives from Billiton, Ctrl Alt, DMCC, and Ripple describe the initiative as a new benchmark for bringing high-value assets on-chain. Crypto analyst WrathofKahneman called it a major step forward for real-world asset adoption, while Bill Morgan joked that although his wife can’t wear a tokenized diamond, she might still want one.

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