Moon5labs
--
Ripple Takes Custody of Tokenized Real Estate Assets for Dubai Government
American blockchain company Ripple has officially entered the tokenized real estate asset market in the UAE. Through a groundbreaking partnership, Ripple will provide custody for digital property title deeds issued by the Dubai Land Department (DLD) on the public XRP Ledger (XRPL). The collaboration is with licensed tokenization platform Ctrl Alt, which operates under the government-backed PRYPCO Mint initiative.
This marks the first time in history that a government property registry in the Middle East uses a public blockchain to record ownership rights. For Ripple, it’s a major step in expanding institutional-grade custody services for tokenized assets globally.
Dubai Is Turning Real Estate Tokenization into Reality
PRYPCO Mint, a joint initiative between DLD and PRYPCO, recently received its VASP license from the Virtual Assets Regulatory Authority (VARA). The platform allows investors to purchase fractional ownership in tokenized properties starting at just $544 USD.
In less than three weeks, three tokenized properties were successfully funded:
🔹 The first apartment in Business Bay sold out in under 24 hours — attracting 224 investors from over 40 countries.
🔹 The second property in Kensington Waters (valued at $653,000 USD) was sold out in just two minutes.
🔹 The third tokenized villa was fully funded by 169 investors within five minutes.
PRYPCO has now listed two more investment opportunities in Dubai Marina and MBR City, demonstrating strong demand for this innovative investment model.
Ripple as Strategic Technology Partner
Ripple will provide trusted, secure infrastructure for digital custody of tokenized real estate titles on XRPL. The partnership with Ctrl Alt is part of Ripple’s broader strategy for the Middle East and Africa, as noted by regional managing director Reece Merrick.
“This is a fantastic example of how Dubai is leading in the global digital asset industry. The use of XRPL by DLD reinforces its reputation as the blockchain of choice for serious financial applications,” said Merrick.
Ctrl Alt founder and CEO Matt Ong praised Ripple’s technological strength:
“Partnering with Ripple gives us proven, secure, and regulation-compliant technology — a perfect fit for this initiative.”
Dubai Becomes a Laboratory for the Future of Crypto and Real Estate
Beyond digitizing ownership records, Dubai is also starting to accept cryptocurrencies as payment for real estate transactions. The DLD is exploring broader use of Ripple’s stablecoin RLUSD, which has been approved by the DFSA for use in the Dubai International Financial Centre (DIFC).
Ripple has recently expanded its presence in the UAE through key moves:
🔹 Partnership with Zand Bank, also working with DLD
🔹 Collaboration with Mamo, leveraging Ripple for cross-border payments
🔹 Securing a DFSA license as the first blockchain-based payment service provider
#Ripple , #Tokenization , #xrp , #DigitalAssets , #Technology
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
This marks the first time in history that a government property registry in the Middle East uses a public blockchain to record ownership rights. For Ripple, it’s a major step in expanding institutional-grade custody services for tokenized assets globally.
Dubai Is Turning Real Estate Tokenization into Reality
PRYPCO Mint, a joint initiative between DLD and PRYPCO, recently received its VASP license from the Virtual Assets Regulatory Authority (VARA). The platform allows investors to purchase fractional ownership in tokenized properties starting at just $544 USD.
In less than three weeks, three tokenized properties were successfully funded:
🔹 The first apartment in Business Bay sold out in under 24 hours — attracting 224 investors from over 40 countries.
🔹 The second property in Kensington Waters (valued at $653,000 USD) was sold out in just two minutes.
🔹 The third tokenized villa was fully funded by 169 investors within five minutes.
PRYPCO has now listed two more investment opportunities in Dubai Marina and MBR City, demonstrating strong demand for this innovative investment model.
Ripple as Strategic Technology Partner
Ripple will provide trusted, secure infrastructure for digital custody of tokenized real estate titles on XRPL. The partnership with Ctrl Alt is part of Ripple’s broader strategy for the Middle East and Africa, as noted by regional managing director Reece Merrick.
“This is a fantastic example of how Dubai is leading in the global digital asset industry. The use of XRPL by DLD reinforces its reputation as the blockchain of choice for serious financial applications,” said Merrick.
Ctrl Alt founder and CEO Matt Ong praised Ripple’s technological strength:
“Partnering with Ripple gives us proven, secure, and regulation-compliant technology — a perfect fit for this initiative.”
Dubai Becomes a Laboratory for the Future of Crypto and Real Estate
Beyond digitizing ownership records, Dubai is also starting to accept cryptocurrencies as payment for real estate transactions. The DLD is exploring broader use of Ripple’s stablecoin RLUSD, which has been approved by the DFSA for use in the Dubai International Financial Centre (DIFC).
Ripple has recently expanded its presence in the UAE through key moves:
🔹 Partnership with Zand Bank, also working with DLD
🔹 Collaboration with Mamo, leveraging Ripple for cross-border payments
🔹 Securing a DFSA license as the first blockchain-based payment service provider
#Ripple , #Tokenization , #xrp , #DigitalAssets , #Technology
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.