Ripple and Ctrl Alt Partner to Tokenize Dubai Real Estate
Ripple, the San Francisco-based blockchain payments company, has formed a strategic partnership with UAE-based Ctrl Alt to expand institutional custody services in the Middle East. This collaboration supports Dubai’s government initiative to digitize real estate through blockchain technology.
Tokenizing Property on XRP Ledger
The partnership will utilize Ripple’s institutional-grade custody infrastructure to manage tokenized property titles issued by the Dubai Land Department (DLD) on the XRP Ledger (XRPL). This innovative approach enables:
- Fractional ownership of real estate assets
- Secure and transparent property transactions
- Efficient management of tokenized titles
Ripple’s Growing Presence in Dubai
Ripple has significantly expanded its operations in Dubai, having recently:
- Received licensing from the Dubai Financial Services Authority (DFSA)
- Established partnerships with local financial institutions including Zand Bank and Mamo
- Gained approval for its RLUSD stablecoin in the Dubai International Financial Centre (DIFC)
Industry Perspective
“This collaboration demonstrates blockchain’s potential to revolutionize property ownership,” said Reece Merrick, Ripple’s Managing Director for Middle East and Africa. “The DLD’s forward-thinking approach sets a new standard for real estate innovation.”
