- Ripple partners with Ctrl Alt to tokenize property title deeds on XRPL for Dubai Land Department’s project.
- Ctrl Alt gains VARA licensing, enabling full asset tokenization lifecycle, from creation to on-chain settlement.
- Blockchain firm cements UAE presence with custody tech, RLUSD approval, and regional partnerships like Zand Bank and Mamo.
Ripple, a global digital asset infrastructure company, has formally aligned with tokenization platform Ctrl Alt to facilitate the Dubai Land Department’s (DLD) historic Real Estate Tokenization Project. This alliance is a historic moment for blockchain usage, whereby Dubai becomes the first Middle Eastern government to tokenize property title deeds on a public blockchain, the XRP Ledger (XRPL).
With this strategic agreement, Ctrl Alt will use Ripple’s institutional-grade digital asset custody technology to enable secure, scalable storage for the tokenized real estate titles. This development not only underscores Ripple’s expanding footprint in the Middle East but is also a reflection of the growing need for compliant digital asset infrastructure for the region.
It is Ripple’s first significant custody agreement for the UAE but now spans Europe, Asia-Pacific, Latin America, and the Gulf. Blockchain firm Middle East and Africa Managing Director Reece Merrick stressed that the Dubai Land Department project is a blueprint for governments to utilize blockchain for innovation. He observed that employing the XRPL for the high-profile public project bolsters the ledger’s credibility as a reliable platform for institutional-grade applications.
Ctrl Alt was recently licensed by Dubai’s Virtual Asset Regulatory Authority (VARA) as a Virtual Asset Service Provider (VASP), becoming the first licensed for issuer-related services. This is a significant regulatory milestone that now enables a full tokenization lifecycle from asset creation, through safe custody, to on-chain settlement and management.
Also Read: Ripple Strikes Landmark $500M Custody Agreement with BNY Mellon for RLUSD
Ripple & Ctrl Alt Enable Fractional Real Estate in Dubai
Ctrl Alt CEO Matt Ong said that the firm’s collaboration fits with their mission of making real estate investment more available. Through the integration of Ctrl Alt’s tokenization technology with Ripple’s secure custody technology, the project looks to fractionalize property ownership so that several investors can jointly own real estate assets securely and transparently.
The Real Estate Tokenization Project is a significant step towards the modernization of Dubai’s real estate market. By means of blockchain, the DLD aims to boost transparency, lower market entry for investors, and increase operational effectiveness for real estate deals. Ripple’s engagement not only guarantees that the project remains tech-savvy but is also aligned with Dubai’s overall mission of becoming a global hub for blockchain and digital finance.
Ripple was also a part of the first group of cross-border payment companies licensed by the Dubai Financial Services Authority (DFSA) earlier this year. With more regional partnerships, including Zand Bank and Mamo, and approval of its stablecoin RLUSD for use within DIFC, the firm is further establishing itself as a major player in the UAE’s burgeoning digital asset ecosystem.
Also Read | Ripple’s RLUSD Stablecoin Targets the $685B Cross-Border Payments Market
