In Dubai, innovation continues unabated, and the real estate market is entering a new era thanks to the partnership between Ripple and Ctrl Alt, which promises to transform the market with tokenization.
Together with Ripple, Dubai aims to transform the way property is purchased and managed, harnessing the power of blockchain technology to create a more secure, efficient, and accessible system.
Through the XRP Ledger, a platform that allows property titles to be stored and managed in the form of digital tokens, the innovative city is opening the door for investors to acquire fractional shares of properties—that is, to buy only a portion of a property—for amounts accessible to a wider audience.
Ripple builds a secure and efficient system for real estate ownership in Dubai
The agreement between Ripple and the real estate firm focuses on expanding the robust and secure digital infrastructure built with local authorities to store and manage tokenized property titles thanks to the power of the XRP Ledger. Ripple's technology guarantees data integrity. This provides immutable traceability of each transaction and any change of ownership.
The platform, called Prypco Mint, is directly powered by Dubai's Land Department, which seeks digitize the entire real estate process, from the issuance of securities to the registration and secure custody of these digital assets. In this partnership, Ctrl Alt is the first platform authorized in Dubai to offer institutional custody services with the legal backing of the country's regulatory authorities.
The use of blockchain technology not only improves transparency and reduces fraud risks, but also speeds up transactions and facilitates international investment in the future. Investors can review complete details of properties before investing, breaking with the traditional opacity of the sector.
According to reported Ripple marks the first time an official authority in the Middle East has registered property titles on a public blockchain, reinforcing the reputation of the platform, the XRP Ledger, as the preferred choice for demanding financial applications. Additionally, with Ctrl Alt using Ripple's escrow technology, the DLD Real Estate Tokenization Project adds an additional level of security and trust.
With this alliance, Ripple consolidates its presence in the region as a key player in financial digitalization and asset tokenization, supported by favorable regulation and strategic collaborations with local banks and fintechs. Dubai, in turn, reaffirms its position as a global hub for innovation in blockchain technology applied to the real economy.
Dubai approves real estate tokenization
Ctrl Alt has reached a key milestone by obtaining a VASP license from VARA, becoming the first entity authorized to provide token issuance-related services under formal regulation. This enables a complete, secure, and compliant tokenization process, encompassing issuance, custody, on-chain settlement, and lifecycle management of the digital asset.
Matt Ong, CEO and founder of Ctrl Alt, explains that partnering with Ripple is a natural decision, since its technology is robust and has high operational and safety standardsThis partnership promises to open up new possibilities to make the Dubai real estate market more accessible and efficient, as well as allowing multiple investors to share ownership of the same property through fractional tokenization.
In short, this tokenization project marks a turning point, positioning Dubai at the forefront of real estate asset tokenization and fostering a more transparent and dynamic environment. Furthermore, Ripple's positive impact in the UAE is reflected in its license granted by the Dubai Financial Services Authority (DFSA), strategic partnerships with local banks, and the acceptance of its RLUSD stablecoin in the Dubai International Financial Centre.
“The DLD Real Estate Tokenization Project represents a significant milestone for asset tokenization and real estate investment in Dubai. With this initiative, Dubai is leading the way toward a more accessible, transparent, and efficient real estate market, expanding investor participation and improving operational efficiency.”, Ripple emphasized.
With over ten years of experience and over 60 licenses across different jurisdictions, Ripple offers a robust, secure, and regulated infrastructure for financial institutions to manage digital assets with confidence and effectiveness, supporting the evolution of the financial ecosystem and real estate market in Dubai and beyond.
BUY XRP ON BIT2MEDemocratized access and new investment opportunities
In Dubai, real estate investment is undergoing an innovative transformation thanks to the combination of technology sector expertise and the strength of the local government to make property ownership more accessible.
According to the local newspaper Gulf News, what once seemed like a luxury reserved for a select few has now become available to a much wider range of people thanks to technology. Thus, with an initial investment of 2.000 Emirati dirhams (approximately US$545), people can participate in Dubai's real estate market.
This platform, backed by Ripple and the Dubai Land Department, allows users to purchase tokenized fractions of real estate, which means a real estate property is divided into small, digital parts that have full legal recognition, backed by official records and local regulations. This allows any small or medium-sized investor to acquire a portion of a property without having to buy the entire property, eliminating traditional economic barriers and opening up new opportunities for wealth diversification.
The goal set through this tokenization initiative is ambitious, as it aims to digitize up to $16.000 billion in real estate by 2033. According to the firms and the local government, this innovation promises to boost the local market, increase liquidity, and offer more asset diversification options to traditional and emerging investors.
An alliance that redefines the digital future
The support of the Dubai Land Department and its alignment with the government's innovation agenda reinforce the legitimacy of this partnership and position it as a strategic linchpin for the emirate's digital development. The digitization of real estate titles contributes to the goal of positioning Dubai as a global hub for digital assets, where blockchain technology underpins next-generation administrative, financial, and notarial processes.
On the other hand, Ripple's expansion in the region has been gradual and structured, incorporating previous partnerships with financial institutions and obtaining the corresponding regulatory licenses. These include agreements with local banks and the authorization for the operation of its RLUSD stablecoin in the Dubai International Financial Center, which has strengthened institutional confidence in its technology and paved the way for larger-scale projects like the current one.
In short, the initiative in question comes at a time of evident dynamism. In May alone, the value of tokenized real estate sales in Dubai approached $400 million, representing 17,4% of all real estate transactions in the city. These numbers demonstrate that digitalization and tokenization are rapidly becoming integrated into the city's economic and financial fabric, generating new sources of attraction for international and local investors.
As technology and regulation advance hand in hand, industry players anticipate increasing adoption of fractional investment models and digital custody for tangible assets, with Dubai serving as a global laboratory and showcase for these innovations.
