Dubai Leads Real Estate Tokenization: Ripple Powers Fractional Ownership on XRP Ledger

Dubai is rapidly emerging as a global leader in digital asset innovation, exemplified by a groundbreaking initiative to tokenize real estate assets. This strategic move, underpinned by a partnership with blockchain firm Ripple, positions the emirate at the forefront of integrating traditional property markets with distributed ledger technology, fostering new investment paradigms and enhancing transactional efficiency within its real estate sector.

• The Dubai Land Department (DLD) is tokenizing real estate title deeds on the XRP Ledger (XRPL) through a pivotal collaboration with Ripple and Ctrl Alt.
• Ctrl Alt, a real estate tokenization infrastructure platform, serves as Ripple’s first major token custody partner in the UAE and the first VARA-licensed entity for issuer-related services.
• The DLD’s decision marks the first instance of a Middle Eastern government real estate authority tokenizing property title deeds on a public blockchain.
• PRYPCO Mint, a joint initiative by DLD and PRYPCO, has successfully tokenized over five properties since its May launch, demonstrating robust investor demand.
• Notable tokenized properties, including a $653,000 unit at Kensington Waters and a two-bedroom apartment in Business Bay, experienced rapid sell-outs, attracting global investors.
• Dubai is further solidifying its digital asset ecosystem by indicating its intention to facilitate crypto payments for real estate transactions.

Strategic Partnership and Technological Framework

The core of this initiative involves Ripple providing its custody technology to Ctrl Alt, a real estate tokenization infrastructure platform utilized by the Dubai Land Department (DLD). This partnership is pivotal for the overarching real estate tokenization project, which leverages the Prypco Mint platform. Ripple’s critical role is to offer secure and scalable storage for Dubai’s tokenized real estate title deeds, which are specifically issued on the XRP Ledger (XRPL). Ctrl Alt represents Ripple’s first significant token custody partner in the UAE, with its operational reach extending to clients across Europe, Africa, Asia Pacific, and Latin America.

According to Reece Merrick, Managing Director for Ripple in Middle East and Africa, this endeavor signifies a forward-thinking approach that firmly establishes Dubai at the heart of the global digital asset industry. Merrick further underscored the strategic importance of the DLD’s choice of the XRPL, highlighting it as the first instance of a Middle Eastern government real estate registration authority tokenizing property title deeds on a public blockchain. This pioneering move substantially reinforces the XRPL’s credentials for serious financial use cases. Furthermore, Ctrl Alt recently secured its Virtual Asset Service Provider (VASP) license from VARA, positioning it as the first authorized entity to conduct issuer-related services in this domain.

Accelerating Market Adoption and Investor Engagement

The tangible success of Dubai’s real estate tokenization efforts is clearly demonstrated by the rapid uptake of properties listed on PRYPCO Mint, a joint initiative between the DLD and PRYPCO, operating under the license of the Virtual Assets Regulatory Authority (VARA). Since its launch in May, Prypco Mint has successfully tokenized over five properties, showcasing significant market traction. For example, a property at Kensington Waters, valued at $653,000, quickly sold out, offering investors fractional ownership opportunities starting from 2,000 AED (approximately $544). An earlier two-bedroom apartment in Business Bay achieved a complete sell-out in less than 24 hours, attracting 224 investors from over 40 nationalities, with an average investment of approximately $2,900. Another tokenized villa was fully funded by 169 investors in a remarkable five minutes. These successes collectively underscore the strong investor appetite for digital real estate assets, with new properties regularly introduced in prime locations such as Dubai Marina and MBR City. Moreover, the Dubai Land Department has publicly indicated its intention to facilitate crypto payments for real estate transactions, signaling a broader, institutional adoption of digital currencies within its operational framework.

Two new #tokenised #properties drop tomorrow at 11 AM! 🏙️ Get ready to invest in #DubaiMarina and #MBRCity , two of the most iconic locations in #Dubai , soon. Stay tuned, top up your wallet, and don’t miss your chance to own a piece of Dubai 🔗 https://t.co/aBQx00aLuv pic.twitter.com/vlpSAvFr1J

— PRYPCO Mint (@PRYPCOMint) July 15, 2025

Expanding Ripple’s Footprint and Dubai’s Digital Vision

Ripple’s escalating involvement in the UAE market extends significantly beyond this singular real estate initiative. The company was notably among the first to secure a license as a blockchain-enabled payments provider from the Dubai Financial Services Authority (DFSA). Its strategic alliances in the region include key partnerships with Zand Bank, which is also involved in the DLD project, and Mamo, both of which leverage Ripple’s advanced blockchain-enabled cross-border payments solutions. Additionally, Ripple’s stablecoin, RLUSD, has received recognition as a crypto token by the DFSA, thereby enabling its permissible use within the Dubai International Financial Centre (DIFC). These cumulative developments collectively highlight Dubai’s proactive and forward-thinking stance in fostering a robust digital asset ecosystem, effectively leveraging blockchain technology to drive innovation across diverse financial and real estate sectors.