Ripple collaborates with Ctrl Alt to support the digital transformation of the Dubai real estate sector through tokenization of ownership on the XRP Ledger.
The Dubai Land Department's project applies blockchain technology to secure and clarify property ownership, opening retail investment opportunities for global investors with low capital.
MAIN CONTENT
Real estate tokenization is a new advancement, enabling fractional investment and global access.
This is the first model of tokenized property ownership backed by the Middle Eastern government on the XRP Ledger technology.
The tokenization process is tightly regulated through VARA licensing, ensuring transparency, safety, and compliance with the law.
What benefits does real estate tokenization bring to the Dubai market?
This initiative facilitates both individual and institutional investors with low capital to own shares in real estate, instead of purchasing the entire asset.
Tokenization helps the Dubai market attract international capital due to its transparency and accessibility. The project has a starting investment of 2,000 AED (545 USD), making it suitable for retail investors.
"Tokenizing property ownership is creating a transparent, scalable, and globally accessible investment market like never before."
Reece Merrick, CEO of Ripple for the Middle East and Africa, 2024
Data from trial transactions show that a villa worth 1.75 million AED was sold quickly in less than 5 minutes, confirming the model's viability and attractiveness to investors.
How is real estate tokenization implemented and what is Ripple's role?
The project uses the XRP Ledger, a prominent public blockchain known for its security and high transaction speeds, to convert traditional property ownership certificates into digital tokens.
Ripple is responsible for providing safe token ownership custody solutions through recognized custody technology, ensuring that digital assets are strictly protected according to international standards.
Highlights of collaboration with Ctrl Alt and VARA.
Ctrl Alt is a tokenization management platform, licensed as a VASP (Virtual Asset Service Provider) by VARA, the UAE's digital asset regulatory authority, committed to ensuring products comply with the law, transparency, and safety when operating token creation and custody services.
"Receiving VARA licensing demonstrates a serious commitment to security, transparency, and legality in the evolving digital asset market."
VARA spokesperson, 2024
How does the investment process for users actually work?
Investors can purchase a small portion of real estate through tokenization on the Ctrl Alt platform, supported by Ripple's secure storage technology. The starting price is only 2,000 AED (545 USD).
Fractional ownership helps diversify portfolios, reducing risk compared to buying an entire apartment or villa.
All transactions comply with UAE regulations under VARA supervision.
The market expands to an international scale, increasing liquidity and accessibility.
Ripple strengthens its position in the UAE through real estate custody collaboration.
This is Ripple's first large-scale digital asset custody agreement in the UAE, marking their increasingly significant role in the regional blockchain ecosystem.
In 2024, Ripple has promoted various initiatives to expand operations and integrate blockchain technology into the finance and real estate sectors in the Middle East.
Quick comparison table of key features of tokenized real estate in Dubai.
Traditional Factors Tokenization on XRP Ledger Full Asset Ownership Token Segmentation High transaction fees High lawyer and notarization fees Low gas fees on XRP Ledger Transaction time Weeks to months Minutes to hours Investor accessibility Large investor limits Global expansion, fractional investment Legal management Traditional paper certification Licensed by VARA, transparent, and highly secure.
Frequently Asked Questions (FAQ)
Is tokenized real estate buying and selling real assets?
Yes. Tokenization represents ownership rights of a small portion of real estate that is legally registered and has legal value according to UAE regulations.
How is the safety of token ownership ensured?
Ripple's custody technology, combined with VARA licensing, protects digital assets from depreciation risks or fraud.
Who can buy this tokenized real estate?
Investors from around the world can participate with a minimum investment of 2,000 AED (~545 USD) without needing to purchase an entire apartment or villa.
How are real estate tokens traded?
Tokens are traded on a specialized platform based on the XRP Ledger, ensuring liquidity and transaction transparency.
What impact does tokenization have on the traditional market?
This model adds a modern investment channel, helping to diversify capital sources, increase liquidity, and promote a more sustainable real estate market.
Source: https://tintucbitcoin.com/ripple-ctrl-alt-ra-mat-bds-ma-hoa/
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