XRP Ledger Tokenizes $280M+ Diamonds in Dubai, Backed by Ripple and VARA

Published: 2026-02-04 13:18:03 |

Ripple-backed firms Billiton Diamond and Ctrl Alt have tokenized over AED 1 billion (≈ $280 million) of certified polished diamonds on the XRP Ledger (XRPL). Tokens represent Dubai-based certified inventory with on-chain proof of grading, certification and provenance. Ripple provides enterprise-grade custody and issuance infrastructure; partners cite XRPL’s fast settlement, low fees and scalability as reasons for selection. The Dubai Multi Commodities Centre (DMCC) and the UAE’s Virtual Assets Regulatory Authority (VARA) support the initiative. The project, first announced in July, aims to integrate real-time inventory and certification data, reduce paper-based workflows, accelerate settlement, and unlock liquidity by shortening working capital cycles for diamond trading. Plans include secondary-market readiness — custody, transfer and market participation — subject to VARA approval. Traders should note potential increases in institutional demand for XRPL utility and custody flows, plus improved on-chain provenance for high-value commodities that may broaden asset tokenization use cases.

Bullish

This development is bullish for XRP specifically because it demonstrates concrete, high-value utility and institutional integration for the XRPL. Tokenizing AED 1+ billion of diamonds signals real-world asset use cases that can drive on-chain transaction volume, custody demand and platform utility. In the short term, announcements like this often attract speculative buying and increased attention to XRPL, potentially supporting positive price moves. In the medium to long term, successful implementation — especially if secondary-market functions and VARA approvals proceed — could create recurring custody and settlement flows, deepen liquidity on XRPL, and increase institutional participation. Risks that could temper impact include regulatory delays from VARA, slow secondary-market adoption, or operational issues in custody/transfer which would limit immediate trading volume. Overall, the balance of factors points to a net positive price impact for XRP if the project advances as described.