Ripple has announced a strategic partnership with tokenization platform Ctrl Alt to expand its custody services in the United Arab Emirates. This collaboration will support the Dubai Land Department's real estate tokenization project.
Ripple's Custody Expansion in the UAE
Ripple expanded its custody services in the UAE through a partnership with Ctrl Alt, according to a press release dated July 16. As a result, Ctrl Alt will utilize Ripple Custody to store tokenized real estate title deeds in Dubai.
Pioneers of Real Estate Tokenization in Dubai
Ctrl Alt was selected to participate in the Dubai Land Department's real estate tokenization project. This marks the first time a government real estate registration authority in the region has utilized tokenization for property registration. The tokenized real estate market in Dubai is projected to reach AED 60 billion ($16 billion) by 2033.
XRP Price Predictions
XRP price jumped over 2% in the past 24 hours, trading at $2.93. Analysts, including Johnny and Ali Martinez, predict a potential rise in price to $5 under favorable market conditions.
Ripple's partnership with Ctrl Alt represents a significant step in the development of real estate tokenization in Dubai, while the projected increase in XRP price continues to attract interest from analysts and investors.
