Ripple Partners with Ctrl Alt for Dubai Real Estate Tokenization

Ripple has expanded its blockchain footprint in the UAE through a significant partnership with Ctrl Alt to support the Dubai Land Department's Real Estate Tokenization Project. This collaboration aims to tokenize property title deeds on the XRP Ledger, utilizing Ripple's custody solution for secure storage. The initiative is designed to enhance transparency, liquidity, and accessibility in Dubai's property market, marking the first government registry in the Middle East to tokenize real estate on a public blockchain.

The partnership leverages Ripple's institutional-grade custody infrastructure to manage digital property titles. Tokenized deeds will be issued directly on the XRP Ledger, known for its fast transactions and low costs, making it an ideal platform for real estate tokenization. Ctrl Alt, now licensed by the Virtual Assets Regulatory Authority (VARA) as a Virtual Asset Service Provider (VASP), will oversee the asset issuance and lifecycle management, ensuring a compliant and regulatory framework for the tokenization process.

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, emphasized the significance of this initiative, stating that it sets a benchmark for global adoption of blockchain-based real estate ownership. The tokenization of real estate offers numerous benefits, including instant settlement of transactions, reduced administrative costs, increased liquidity for illiquid assets, and global access to premium property investments. This opens up new opportunities for both retail and institutional investors, making Dubai's property market more accessible and efficient.

Dubai's innovation in real estate tokenization is driven by market demand and regulatory support. The emirate is at the forefront of digital asset transformation, with a strong commitment to blockchain technology. This partnership not only reinforces Ripple's global custody network but also positions Dubai as a leading hub for digital asset innovation. With over $325 million in tokenized assets, Ctrl Alt is poised to expand digital ownership beyond real estate into private credit and investment funds, further solidifying Dubai's role in the global fintech ecosystem.

Ripple's presence in Dubai has grown significantly, with the company being the first blockchain-based payments firm to be licensed by the Dubai Financial Services Authority (DFSA). The approval of Ripple's new stablecoin RLUSD for use within the Dubai International Financial Centre (DIFC) further integrates Ripple into the region's fintech landscape. With over 60 regulatory licenses globally, Ripple is providing compliant blockchain solutions across various sectors, potentially serving as a blueprint for property tokenization worldwide. This initiative underscores Ripple's commitment to expanding its blockchain footprint and driving innovation in the digital asset space.