Ripple Partners with Ctrl Alt to Expand Institutional Custody in Middle East

Ripple, a blockchain payments firm based in San Francisco, has formed a strategic partnership with Ctrl Alt, a UAE-based company, to expand its institutional custody services in the Middle East. This collaboration is aimed at supporting Dubai’s government-led real estate digitization efforts. As part of the agreement, Ctrl Alt will utilize Ripple’s secure and scalable institutional-grade custody infrastructure to store tokenized property title deeds issued by the Dubai Land Department (DLD) on the XRP Ledger (XRPL).

Ripple’s technology will play a crucial role in the storage and lifecycle management of fractionalized real estate titles, which are a key component of Ctrl Alt’s end-to-end infrastructure for asset tokenization. The DLD, responsible for registering, organizing, and promoting Dubai real estate, had previously announced the pilot phase of its real-estate tokenization initiative in March. This partnership marks Ripple’s first major custody collaboration in the United Arab Emirates, highlighting the growing demand for secure and compliant digital asset infrastructure in the region.

Reece Merrick, Managing Director for the Middle East and Africa at Ripple, emphasized the significance of this initiative, stating that the Dubai Land Department’s Real Estate Tokenization Project is a prime example of innovative efforts positioning Dubai at the forefront of the global digital asset industry. He noted that this is the first instance where a government real estate registration authority in the Middle East has tokenized property title deeds on a public blockchain, reinforcing the XRPL’s credentials as a blockchain of choice for serious financial use cases.

Ripple’s expanding presence in Dubai is further solidified by this strategic partnership with Ctrl Alt. Earlier this year, Ripple secured a license from the Dubai Financial Services Authority (DFSA) and has since established alliances with local banks and fintech firms. The company also received approval for its highly-regulated US dollar-backed RLUSD stablecoin, allowing it to be legally used within the Dubai International Financial Centre (DIFC).

Ctrl Alt, Ripple’s first major custody partner in the UAE, will leverage Ripple’s institutional-grade digital asset custody solution to manage the issuance, settlement, and full lifecycle of these tokenized assets. The company has recently secured a Virtual Asset Service Provider license from the Dubai Virtual Assets Regulatory Authority, demonstrating its commitment to regulatory compliance and blockchain expertise.

The tokenization of real estate in Dubai introduces a new model of fractional ownership, allowing investors to purchase shares starting at AED 2,000. This democratizes access to premium real estate, making it more accessible to global retail and institutional investors. The creation of secondary markets for these tokens enables 24/7 trading, enhancing liquidity for traditionally illiquid assets. Property developers and owners can tap into fresh capital pools without relying on debt, opening new avenues for real estate financing.

This initiative underscores Dubai's ambition to lead in digital asset adoption. By pioneering government-backed tokenization on the XRP Ledger, Dubai not only modernizes its real estate sector but also provides a scalable blueprint for other jurisdictions. This move positions Dubai as a global leader in blockchain innovation, reinforcing its status as a forward-thinking region in the digital asset space.