Dubai leads the Middle East with government-backed property tokenisation powered by Ripple and Ctrl Alt
Dubai has taken a major leap in real estate innovation as Ripple, the US-based digital asset infrastructure provider, announced a strategic partnership with UAE-based Ctrl Alt to deliver institutional-grade digital asset custody for the Dubai Land Department’s (DLD) landmark Real Estate Tokenisation Project.
This initiative—backed by the Dubai Future Foundation and launched on the Prypco Mint platform—is the first of its kind in the MENA region. Built on Ctrl Alt’s Web3 infrastructure, it uses blockchain to digitise and tokenise property title deeds, enabling fractional ownership and expanding access to real estate investment.
Securing Title Deeds on the Blockchain
Ripple’s custody technology will play a critical role in safeguarding tokenised property title deeds on the XRP Ledger (XRPL), a public blockchain known for its efficiency and security. Ctrl Alt, newly licensed by Dubai’s Virtual Assets Regulatory Authority (VARA), will integrate Ripple’s custody tools into its infrastructure to ensure high operational and regulatory standards.
This partnership supports DLD’s goal of transforming real estate ownership by enabling tokenised property shares to be bought and sold digitally—with entry-level investments starting from just AED 2,000.
A First for the Middle East
The Real Estate Tokenisation Project marks the first time a government-backed real estate authority in the Middle East has adopted a public blockchain to issue title deeds. By enabling fractional ownership, the initiative aims to make Dubai’s booming property market more transparent, accessible, and affordable.
“This project showcases how Dubai continues to lead in digital asset innovation,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa. “The choice of XRPL for issuing digital title deeds underscores the growing confidence in blockchain for real-world financial applications.”
Ctrl Alt CEO Matt Ong added, “Partnering with Ripple is a natural fit as we both prioritise secure and compliant digital infrastructure. Their custody solution ensures we meet the highest standards in managing tokenised real estate assets.”
Ripple Expands Presence in the UAE
Ripple’s collaboration with Ctrl Alt comes amid its broader expansion across the UAE. Earlier this year, Ripple became the first blockchain payments company licensed by the Dubai Financial Services Authority (DFSA), and its partnerships now include local players such as Zand Bank and Mamo. Its newly launched stablecoin, RLUSD, has also been approved for use in Dubai’s DIFC financial free zone.
Globally, Ripple holds over 60 regulatory licenses and continues to grow its digital asset custody services across Europe, Asia-Pacific, Latin America, and now the Middle East.
Towards a Tokenised Future
The DLD’s tokenisation initiative not only enhances the efficiency of real estate transactions but also aligns with Dubai’s ambition to become a global hub for blockchain-powered finance and property innovation. With Ripple’s custody technology in place, the foundation is set for secure, compliant, and accessible real estate investments on the blockchain.
This partnership marks a significant step toward the mainstream adoption of Web3 infrastructure in the real estate sector—one that could serve as a model for other markets around the world.