$XRP 💎 Real diamonds are coming to the Ripple network.
A historic partnership has just been announced in the United Arab Emirates. The diamond firm Billiton Diamond and the platform Ctrl Alt have tokenized over $280 million in polished diamonds using Ripple's technology.
What you need to know:
- Real World Assets (RWA): Tokens have been issued on the XRP Ledger (XRPL) representing physical inventory of diamonds held in Dubai.
- Cutting-Edge Technology: They used Ripple's institutional custody tools to ensure the security of the assets.
- Transparency: The goal is for the trading of these gemstones to be faster, have clearer provenance data, and be accessible at an institutional level.
- Regulation: The project already has a massive tokenized inventory, but its mass launch to the public will depend on VARA's approval (the virtual asset authority of Dubai).
This move positions the XRP network as one of the key infrastructures for digitizing valuable real-world assets, beyond simple money transfers.
What do you think of this movement?