Billiton Diamond and Ctrl Alt Announce $280 Million Tokenization Initiative in the UAE

• Billiton and Ctrl Alt have partnered to tokenize diamonds in the UAE.
• The initiative launched over $280 million in tokenized diamonds.
• The group eyes regulatory compliance ahead of further expansion.

Billiton Diamond and the Ctrl Alt tokenization firm have partnered to move over $280 million worth of certified polished diamonds on-chain in the UAE. In a Tuesday press release, the firms noted that they used Ripple’s custody technology to secure the assets while deploying the XRP Ledger to mint tokens tied to physical inventory.

An Institutional-Grade Tokenization Pipeline in the UAE

According to the firms, they are structuring the initiative as an institutional-grade tokenization pipeline for polished stones in the UAE. In the meantime, the companies are positioning the project as a channel for faster settlement and clearer provenance data. However, they are wo…

Read The Full Article Billiton Diamond and Ctrl Alt Announce $280 Million Tokenization Initiative in the UAE On Coin Edition.