The singers collaborated on a remix of Bieber's hit single "Sorry" in 2015

By Hanna Flanagan
November 20, 2019 12:27 PM
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For Justin Bieber, Christmas came early thanks to J. Balvin.

The singer, 25, showed off a piece of costume jewelry he received from J. Balvin on his Instagram Stories on Tuesday night, and the square-cut diamond ring is truly blinding.

Justin Bieber J Balvin ring
Credit: Justin Bieber/Instagram. Inset: Gotham/GC Images

Bieber — who first collaborated with the Columbian singer, 34, on a Latino remix of his hit single “Sorry” in 2015 — tagged Balvin in the post and spelled out the words, “Thank you for the ring” using colorful Gifs.

Aside from the thick band silver ring, Bieber also showed off his 18K gold Tiffany & Co. wedding ring and an Audemars Piguet Royal Oak watch, which the singer reportedly bought before marrying Hailey Baldwin on Sept. 30.

The vintage gold stunner from Beverly Hills jeweler Jadelle is at least 20 years old but “still in pristine condition,” according to GQ.

Justin Bieber J Balvin ring
Credit: Justin Bieber/Instagram

While it’s unclear what prompted Balvin to give Bieber the outrageously large piece of jewelry, sources recently told PEOPLE that the Drew House founder is working on new music — could this mean another collaboration?

j-balvin
J. Balvin at the GUESS x J Balvin launch party in Feb. 2019
| Credit: Tommaso Boddi/Getty

The source said that Bieber’s new album, his first in over four years, will be “released very soon.”

“Hopefully in time for the holidays,” the source told PEOPLE.

And with a new album comes a tour to perform his new material for fans. “Justin is also preparing for a tour next year. He is in intense dance rehearsal,” the source shared of the 25-year-old pop star.

Justin and Hailey Bieber
Credit: Black Star Burger LA

Bieber, who recently campaigned for 20 million Instagram likes from followers to release new music, is “super excited” about what he’s been working on.

“He can’t wait to share it all with fans,” the source said, adding that Baldwin “is, of course, supportive and plans on touring with Justin. It’s all very exciting.” Along with the support of his wife and family, Bieber hit the studio in the summer and shared intimate photos from his recording sessions on social media in May and June, both times with Baldwin by his side.

Justin and Hailey Bieber
Credit: Mega

In September, Bieber assured fans about the impending release of his upcoming projects, tweeting: “Love you guys. More is coming.”

Fans last saw the star on stage performing during this year’s Coachella Music and Arts Festival when he made a surprise appearance for Ariana Grande‘s second weekend of headlining. “I haven’t been on stage in like two years. I came out here I had no idea I was going to be on stage tonight. So anyway, this is my first time on stage in two years. I had to get my groove back, my swag back. By the way — album coming soon,” he said in April.