Ripple Supports $280 Million Diamond Tokenization Initiative in UAE

Ripple's custody infrastructure has facilitated the tokenization of over $280 million in polished diamonds in Dubai, advancing regulated trading.

A groundbreaking initiative in the United Arab Emirates has seen the tokenization of polished diamonds exceeding $280 million, thanks to Ripple's backing. The project is currently operational in Dubai, where it leverages Ripple’s custody solutions to enhance the security and efficiency of diamond trading.

As the initiative unfolds, Ripple collaborates with various companies to establish a regulated trading framework for these diamond assets. This innovative approach aims to revolutionize how diamonds are traded by moving them onto the blockchain, ensuring transparency and security in transactions.