🏗️ Dubai Government Taps Ripple for Real Estate Tokenization 🪙🇦🇪

In a groundbreaking move, Ripple has been selected as the official custody technology provider for Dubai’s real estate tokenization project, spearheaded by Ctrl Alt, a licensed tokenization infrastructure platform collaborating with the Dubai Land Department (DLD).

The initiative utilizes the Prypco Mint platform to tokenize real estate title deeds on the XRP Ledger (XRPL), marking the first-ever government-backed property tokenization on a public blockchain in the Middle East.

🔒 Ripple’s Role

Ripple will provide secure and scalable digital asset custody, ensuring safe storage of tokenized property titles. This partnership designates Ctrl Alt as Ripple’s first major custody client in the UAE, with operations also expanding across Europe, Africa, Asia Pacific, and Latin America.

🗣️ Reece Merrick, Managing Director of Ripple MENA, stated:

“This is the first time a government real estate registration authority in the Middle East has tokenized property title deeds on a public blockchain. That the DLD has chosen XRPL is a powerful endorsement of its security and suitability for real-world financial use cases.”

🛡️ Ctrl Alt CEO Matt Ong added:

“Partnering with Ripple allows us to leverage trusted custody technology that meets the highest standards of security and operational excellence.”

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🏘️ PRYPCO Mint: Tokenized Real Estate Gains Momentum

Since its launch on May 25, 2025, PRYPCO Mint — a joint venture between the DLD and PRYPCO — has seen rapid investor interest:

• 1st Property: A Business Bay apartment sold out in <24 hours with 224 investors from 40+ countries.

• 2nd Property: A Kensington Waters listing ($653,000) sold out in under 2 minutes, with token shares starting from AED 2,000 (~$544).

• 3rd Property: A villa was funded in just 5 minutes by 169 investors.