Press Release

• The two firms to execute end-to-end tokenization of certified polished diamond inventory, enhancing transparency, speed, and accessibility within Dubai’s evolving gems and digital asset ecosystem.
• To date, the collaboration has tokenized over $280+ million in diamonds.‍

Dubai, UAE – February 3, 2026 – In a landmark move for the diamond and digital asset industries, Billiton Diamond and leading tokenization provider Ctrl Alt, today announced a collaboration that has tokenized over AED 1 billion ($280m) of certified polished diamonds held in the UAE. This initiative marks a significant step in commodities tokenization, with the aspiration to expand access to diamond investment through institutional-grade blockchain-powered infrastructure.

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Billiton Diamond, an established leader in rough diamond auctions with its unique Vickrey auction model designed to provide price clarity and efficient supply, is driving the exploration of new, innovative models for tokenized polished diamond sales in the coming phases of the initiative. Under the collaboration, Ctrl Alt will provide the end-to-end tokenization of over AED 1 billion worth of polished inventory from Billiton’s approved partners, building on the initial completed tokenization phase. The move positions Billiton at the forefront of diamond investment innovation and Ctrl Alt as a leader in commodities tokenization. The tokenized assets will be secured through Ripple’s enterprise-grade custody technology.

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Through this collaboration, Billiton will launch a new tokenized diamond platform that embeds real-time inventory management and certification data on the blockchain, allowing stakeholders to verify the origin, grading, and ownership history of each polished stone before any transaction. It also aims to provide Billiton with a foundation to support the future listing of tokenized diamonds on both primary and emerging secondary markets, enhancing accessibility, auditability and operational efficiency across the end-to-end lifecycle. These novel operations will be subject to regulatory approval by the Virtual Assets Regulatory Authority (VARA) prior to launch.

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Ctrl Alt is the tokenization provider for the initiative, having already tokenized over AED 1 billion in diamonds, with subsequent phases focused on lifecycle capabilities, including custody, transfer, and secondary market readiness. Tokens have been minted on the XRP Ledger (XRPL), chosen for its fast settlement, low fees, and scalable architecture.

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DMCC played an integral part in making this initiative possible, connecting stakeholders and building the ecosystem required for diamond tokenization. By providing guidance and industry support, DMCC reinforced its position as the world’s leading business district and trade hub driving innovation in both commodities and digital assets.

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Jamal Akhtar, Joint Owner of Billiton Diamond, said:

‍“This partnership transforms polished diamonds from a traditionally illiquid asset class into a transparent, investable digital asset that supports manufacturers, brands, and investors alike. Tokenization introduces an unprecedented level of transparency, unlocking the potential for new liquidity, shortening working capital cycles for manufacturers and traders, and opening the door to seamless global participation in Dubai’s growing luxury ecosystem.”

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Robert Farquhar, Chief Executive Officer, MENA at Ctrl Alt, said:

‍“Billiton needed robust, institutional-grade infrastructure to handle the complexity and scale of its polished diamond supply. Our proven tokenization expertise and technology provide a clear, secure, and compliant route for diamond ownership to move on-chain, from asset origination to digital market participation. This establishes a more accessible and operationally efficient model for commodity investment in the UAE.”

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Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said:‍

“This initiative reinforces DMCC’s role as the bridge between commodities, capital and next-generation digital markets. Through the infrastructure and partnerships we have developed, including recently with VARA, we are creating the frameworks for industry leaders such as Billiton Diamond and Ctrl Alt to apply digital innovation to the physical diamond trade and to advance the wider tokenization of high-value commodities in a manner that is secure, scalable and trusted. This collaboration is further proof of how DMCC’s ecosystems, from precious stones and metals to Web3 and FinX, translate innovation into real-world, investable trade solutions that enhance liquidity, transparency and global market access.”

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Reece Merrick, Managing Director, Middle East & Africa, at Ripple, said:

‍"The potential of tokenization relies on enterprise-grade trust and security. As Billiton Diamond and Ctrl Alt move $280 million in diamond inventory onto the XRPL, our custody technology provides the rigorous security required to manage these assets at scale, proving that high-value physical assets can be moved on-chain with absolute confidence. Alongside Billiton Diamond and Ctrl Alt, we are proud to set a new precedent for commodities trading in the digital age."

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This initiative aligns with recent regulatory advancements and framework support for digital assets announced by VARA and the DMCC. It capitalizes on Dubai’s strategic vision to be a global hub where traditional commodity trading converges with innovative blockchain market infrastructure.

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About Billiton Diamond FZCO‍

Billiton Diamond FZCO is a Dubai-based diamond management and auction services provider of rough and polished diamonds. The company’s auction platform is engineered to deliver price discovery, transparency, and efficient access to premium diamond supply for a global buyer base. For more information visit https://billitonauctions.com

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About Ctrl Alt‍

Ctrl Alt is a leading tokenization provider, designing and operating the on-chain infrastructure that powers digital capital markets globally, partnering with major financial institutions and governments. The firm combines blockchain technology with expert financial engineering to deliver tailored, end-to-end and compliant solutions in the alternative assets space. As of January 2026, Ctrl Alt has tokenized over $850 million in assets, spanning real estate, private credit, funds, commodities and more. For more information visit ctrl-alt.co 

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About DMCC‍

DMCC is a leading international business district that drives the flow of global trade through Dubai. DMCC makes it easier for its members to do business, helping them access the world’s fastest-growing markets from a dynamic district that offers everything they need to thrive. This approach is why DMCC is the preferred location for over 26,000 top multinationals and high-impact startups, contributing significantly to Dubai’s position as a global hub for trade and innovation. DMCC is where the world does business. For more information, visit dmcc.ae.

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Ctrl Alt Solutions DMCC is licensed by the Dubai Virtual Assets Regulatory Authority (reference: VL/25/05/002) as a Broker-Dealer and as an Issuer. Our principal office is located at Level No 11, Uptown Tower, Dubai, UAE.

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Ctrl Alt Solutions DMCC is a wholly owned subsidiary of Alt Ltd. Alt Ltd (FRN 974321) is an Appointed Representative of Infinity Asset Management LLP (FRN: 464315), which is authorized and regulated by the Financial Conduct Authority.

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Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. Investors in Virtual Assets can lose all their money and do not benefit from any form of financial protection.