💎 Ripple Tokenizes $280M in Diamonds: A New Milestone for XRP Ledger
Ripple has launched an ambitious pilot project in Dubai to tokenize certified diamonds in collaboration with Billiton Diamond and Ctrl Alt.
Key Highlights:
🔹 Infrastructure: All diamond data and ownership rights are recorded on the XRP Ledger ($XRP).
🔹 Backing: Physical diamonds valued at over 1 billion AED (~$280M) are stored in secure vaults in the UAE, serving as collateral for the tokens.
🔹 Security: Ripple’s institutional-grade custody solutions are used to protect and manage the digital asset data.
Regulatory Momentum:
The project is currently in pilot mode, with open trading pending approval from Dubai’s VARA. Meanwhile, Ripple continues its global expansion, recently securing an Electronic Money Institution (EMI) license in Luxembourg. The company now holds over 75 licenses and registrations worldwide.
🤔 Questions Remain:
While the scale is impressive, some operational details are still under wraps:
• How will the physical redemption process work?
• What is the minimum investment threshold?
• How will individual stone pricing be determined?
Without these details, assessing the long-term liquidity of the model is difficult, but bringing luxury goods to XRPL is a significant step for the RWA (Real World Assets) sector.
Do you think luxury asset tokenization will be the next big growth driver for XRP? Let us know in the comments! 👇
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