Dubai is taking a step into the future by tokenizing its property titles using Ripple and Ctrl Alt, opening new horizons for investors.
How the Project Works
Ctrl Alt leverages Ripple’s comprehensive solutions for securely managing tokenized property titles. Titles issued by the Dubai Land Department (DLD) will be stored and processed directly on the XRPL. This significant improvement reduces paperwork time to seconds and provides transparent ownership with full on-chain audit capabilities. Tokenization will also allow investors to acquire shares in real estate starting from AED 2,000 (approximately USD 545), democratizing access to Dubai’s premium real estate market.
Compliance and Security at the Forefront
Ctrl Alt became the first company in Dubai to secure a Virtual Asset Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA), allowing it to legally issue, custody, and manage tokenized assets. This partnership also marks Ripple’s first major custody collaboration in UAE. Ripple's global custody network spans multiple regions, ensuring compliance and simplifying access for institutional and retail investors in the UAE real estate market.
Future Implications of Real Estate Tokenization
Dubai aims to be a leader in blockchain adoption in real estate, showcasing a scalable and secure model for other regions. The ability to tokenize and trade real estate shares 24/7 opens access to previously illiquid assets and allows property developers to tap into new sources of capital without traditional debt. Ripple is actively expanding its presence in the region, recently securing approval for its stablecoin RLUSD in the Dubai International Financial Centre.
The partnership between Ripple and Ctrl Alt reveals new horizons for real estate tokenization in Dubai, setting a new standard in digital assets and regulatory progress in the world of blockchain finance.
