High dust density in the midplane of protoplanetary disks is favorable for efficient grain growth and can allow fast formation of planetesimals and planets, before disks dissipate. Vertical settling and dust trapping in pressure maxima are two mechanisms allowing dust to concentrate in geometrically thin and high-density regions. In this work, we aim to study these mechanisms in the highly inclined protoplanetary disk SSTC2D J163131.2-242627 (Oph 163131, i ?84°). We present new high-Angular-resolution continuum and 12CO ALMA observations of Oph 163131. The gas emission appears significantly more extended in the vertical and radial direction compared to the dust emission, consistent with vertical settling and possibly radial drift. In addition, the new continuum observations reveal two clear rings. The outer ring, located at ?100 au, is well-resolved in the observations, allowing us to put stringent constraints on the vertical extent of millimeter dust particles. We model the disk using radiative transfer and find that the scale height of millimeter-sized grains is 0.5 au or less at 100 au from the central star. This value is about one order of magnitude smaller than the scale height of smaller micron-sized dust grains constrained by previous modeling, which implies that efficient settling of the large grains is occurring in the disk. When adopting a parametric dust settling prescription, we find that the observations are consistent with a turbulent viscosity coefficient of about ? ?2 10-5 at 100 au. Finally, we find that the thin dust scale height measured in Oph 163131 is favorable for planetary growth by pebble accretion: A 10 M E planet may grow within less than 10 Myr, even in orbits exceeding 50 au.