Ripple Labs has partnered with Ctrl Alt, a digital asset platform, to support a new initiative by the Dubai Land Department. Together, they are changing the way property ownership works in the city by tokenizing real estate property title deeds. As announced in a recent X post, this project will use blockchain technology , specifically the XRP Ledger (XRPL). This move is poised to open the door to a faster, safer, and more inclusive real estate market in Dubai. Making Real Estate In Dubai Safer with Blockchain Real estate in Dubai has long attracted global investors, but the traditional process of buying and selling property remains complex. The Dubai Land Department hopes to simplify this process by using Ripple and Ctrl Alt’s blockchain solutions. Tokenized property titles will allow shared ownership of premium properties. This means more people can invest in Dubai real estate without needing to purchase an entire unit. It also opens up access for smaller investors while maintaining high standards of compliance and security. Furthermore, putting property title deeds on the blockchain will also make deals faster and easier to track. It will help people buy and sell these assets more easily, like trading shares. Reece Merrick, Ripple’s leader in the Middle East and Africa, said Dubai is showing outstanding leadership with this move. He stated that it is the first time a Middle Eastern government has fully tokenized title deeds on a public blockchain. Merrick believes the Dubai Land Department is setting a strong example for other governments exploring digital asset adoption. Ctrl Alt Strengthens Tokenization Efforts with VARA License Ctrl Alt is playing a major role in this project. The company recently received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This license allows Ctrl Alt to manage the full lifecycle of tokenized assets; from issuance to custody. Meanwhile, this is not Ctrl Alt’s first experience with tokenizing real-world assets (RWAs). The company has already tokenized over $325 million in assets, including real estate, private credit, and investment funds. Ripple’s Expanding Presence in the UAE Ripple’s partnership with Ctrl Alt is part of its growing footprint in the Middle East . The company was the first blockchain-based payments provider to receive a license from the Dubai Financial Services Authority (DFSA). Ripple has also collaborated with Zand Bank and recently gained approval for its stablecoin, RLUSD, within the Dubai International Financial Centre (DIFC). With more than 60 licenses worldwide, the company is becoming a trusted partner for institutions looking to adopt digital assets in a safe and regulated way. The UAE has a GDP of approximately $277 billion, indicating the significant potential for economic growth. With its latest significant strides, Dubai is positioning itself as a leader in financial innovation in the region. The post Ripple and Ctrl Alt Join Forces to Tokenize Real Estate Titles In Dubai appeared first on TheCoinrise.com .
