Ripple partners with Ctrl Alt to back Dubai Land Department’s real estate tokenization on XRP Ledger, enhancing transparency and global access.
In order to enhance Dubai’s real estate sector, Ripple has collaborated with Ctrl Alt. This partnership supports a new initiative by the Dubai Land Department to tokenize property title deeds using the XRP Ledger.
Dubai’s Real Estate Tokenization Boosted by Ripple and Ctrl Alt
Ripple has announced a new partnership with Ctrl Alt to deploy Ripple’s institutional-grade custody technology to store tokenized real estate titles securely. These titles, which are immediately issued on the XRP Ledger, are expected to enhance liquidity, facilitate faster transactions, and increase transparency in Dubai’s property market.
The Dubai Land Department initiative was praised by Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, as a model for other governments exploring blockchain. “This marks the first instance in which a Middle Eastern government real estate registry has fully tokenized title deeds on a public blockchain,” he stated, emphasizing Dubai’s aspiration to be a leader in digital asset innovation.
This partnership continues the recent regulatory momentum for Ctrl Alt, which has obtained a VASP license from VARA, allowing it to provide issuer-related services. This license formally unites asset issuance, custody, and lifecycle management, establishing a comprehensive framework for compliant real estate tokenization.
Matt Ong, the CEO and Founder of Ctrl Alt, observed that collaborating with Ripple provides both credibility and scope.
“Partnering with Ripple allows us to leverage proven and trusted technology that meets the highest security and operational standards. We’re excited to work with them and bring Dubai real estate investment opportunities to a wider audience.”
The traditional buying and selling processes in Dubai’s real estate market are often slow and complex, even though it has attracted investors from around the globe. The Dubai Land Department intends to simplify this process by tokenizing property titles using Ripple’s technology and Ctrl Alt. This modification will facilitate the participation of more individuals in the market by enabling them to own premium properties jointly.
Ripple Expands Its Positive Ecosystem
Ripple was the initial blockchain-based payment provider to receive a Dubai Financial Services Authority (DFSA) license. Dubai’s status as a digital asset hub is further solidified by the recent sanction of Ripple’s stablecoin, RLUSD, for use within the Dubai International Financial Centre (DIFC) and partnerships such as Zand Bank.
The UAE’s GDP of approximately $277 billion underscores the magnitude of the opportunity. Dubai is rapidly emerging as a testbed for institutional-grade tokenization, as Ctrl Alt has already tokenized more than $325 million in assets, including real estate, private credit, and funds.
Ripple is expanding its business in the Middle East to provide secure and compliant digital asset solutions on a global scale. Ripple is gradually becoming the solution institutions desire, as evidenced by its expanding network and adoption, which includes more than 60 regulatory licenses.
