Ripple has announced a partnership with Ctrl Alt to support the real estate tokenization project in Dubai, marking an expansion of their custody services.
Ripple and Ctrl Alt Partnership
Ripple has partnered with Ctrl Alt to support the Dubai Land Department's (DLD) Real Estate Tokenization Project. This partnership highlights the growing institutional interest in XRP within the United Arab Emirates.
Bank-Grade Security for Tokenized Assets
The DLD launched the tokenization initiative in May. Ripple's custody solution will be responsible for the secure and scalable storage of these tokenized assets. This is expected to enhance the transparency and efficiency of real estate transactions, while also opening the door to fractional ownership.
Ripple's Strengthening Presence in the UAE
This partnership also reflects Ripple's expansion in the digital asset space in the UAE. Earlier this year, Ripple became the first blockchain-enabled payments firm to be licensed by the Dubai Financial Services Authority (DFSA), opening new opportunities for XRP adoption.
Thus, Ripple's partnership with Ctrl Alt and the integration of Ripple Custody into the national real estate system of the UAE highlight the growing institutional confidence in the company and its role in the tokenized economy.
