Ripple has announced a new partnership with Ctrl Alt, a UAE-based virtual asset service provider (VASP), to advance Dubai’s ambitions to digitize its real estate sector.
In partnership with Ctrl Alt and the Dubai @Land_Department, Ripple Custody will deliver scalable and secure storage for the Dubai Land Department’s tokenized real estate title deeds, which have been issued on the XRP Ledger – enabling fractional ownership, transparency, and…
— Ripple (@Ripple) July 16, 2025
Under this collaboration, Ctrl Alt will integrate Ripple’s blockchain custody infrastructure to securely store and manage tokenized property title deeds issued by the Dubai Land Department on the XRP Ledger. This will enable the full lifecycle management of fractionalized property ownership, strengthening Ctrl Alt’s asset tokenization platform with compliant, on-chain custody solutions for real estate tokens.
Ctrl Alt is notably the first VASP in Dubai authorized by the Virtual Assets Regulatory Authority (VARA) to offer issuer-related virtual asset services. The partnership follows Ripple’s recent expansions in the UAE, including alliances with Zand Bank and fintech firm Mamo, alongside gaining regulatory approval for its RLUSD stablecoin within the Dubai International Financial Centre.
This development builds on the launch of Prypco Mint on May 25 — a government-backed real estate tokenization platform developed with Ctrl Alt and built on the XRP Ledger. Prypco Mint allows UAE residents to invest in fractional property ownership starting from AED 2,000 (around $545). The initiative, currently in its pilot phase within Dubai’s Real Estate Sandbox, aims to tokenize up to $16 billion worth of property by 2033.
Additionally, Ripple’s U.S. dollar-backed stablecoin RLUSD received regulatory approval from the DFSA for use within the Dubai International Financial Centre (DIFC).
Dubai’s commitment to becoming a global leader in real-world asset tokenization is gaining momentum. In May 2025 alone, tokenized real estate sales accounted for nearly $400 million, representing 17.4% of total property transactions in the city.
Meanwhile, Dubai has taken a significant step in digital finance by approving the Middle East’s first tokenized money market fund. The DFSA authorised the QCD Money Market Fund (QCDT), a joint initiative by Qatar National Bank (QNB) and DMZ Finance, marking a milestone in the region’s push towards integrating traditional finance with blockchain technology.
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