Through a partnership with Billiton Diamond and tokenization firm Ctrl Alt, Ripple-backed custody technology secured $280 million in polished diamonds on the XRP (CRYPTO: XRP) Ledger, the companies announced Tuesday in Dubai.
The Diamond Tokenization Setup
Billiton Diamond and Ctrl Alt moved over AED 1 billion ($280 million) worth of certified polished diamonds on-chain in the UAE.
Ripple’s enterprise custody tools secure the physical diamonds, while the XRP Ledger creates digital tokens representing ownership.
Adding to its infrastructure push, Ripple secured full Electronic Money Institution approval from Luxembourg’s financial regulator last week, pushing its global regulatory approvals beyond 75.
This follows recent UK approvals, reinforcing Ripple’s position …