Ripple-Backed Ctrl Alt Tokenizes $280 Million in Diamonds on XRPL
- More than $280 million (over AED 1 billion) worth of diamonds are now tokenized on the XRPL.
- The deal was confirmed by Reece Merrick, Ripple’s managing director for the Middle East & Africa.
- This project utilizes Ripple’s custody technology to secure assets and mint tokens linked to physical inventory.
- The total value of assets tokenized on XRPL has reached $1.96 billion.
- XRP price is currently trading at $1.39, down over 3% with a trading volume decline of more than 30% in the past day.
The successful tokenization of diamonds represents a significant advancement in bridging commodities with blockchain technology, enhancing transparency and efficiency in global finance.
With over $280 million in diamonds now tokenized, this initiative highlights the growing demand for real-world asset (RWA) tokenization on the XRPL platform.
