The Dubai Land Department has launched a new real estate investment platform powered by the XRP Ledger. This blockchain-based system introduces property tokenization, enabling residents to buy fractional ownership in properties across the region.
Through this platform, users can purchase shares of real estate assets as digital tokens, eliminating the need to buy entire properties. It allows investors to access Dubai’s real estate market and use blockchain infrastructure for better support.
According to a recent announcement from the DLD, this platform is part of a long-term vision to tokenize $16 billion worth of real estate assets by 2033. The purpose of the initiative is to simplify purchasing land and open up more choices for investors to enter.
John Deaton, founder of Crypto Law and a known supporter of Ripple, brought attention to what makes XRPL’s infrastructure valuable. He mentioned that the platform was created in 2012 with tokenization in focus and included tools for connecting with real-world assets from day one.
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XRPL’s Original DeFi Tools Resurface Amid Dubai’s Tokenization Drive
Deaton emphasized that the XRPL includes a native decentralized exchange, which allows for seamless trading of tokenized assets. He believes that this development demonstrates the platform’s long-standing readiness to handle real estate tokenization and other real-world assets.
The Dubai Land Department’s choice of XRPL adds credibility to the blockchain’s technical design. Rather than relying largely on smart contracts like similar platforms, XRPL has its own tools that keep things simple and improve transaction speed.
Agencies are relying on blockchain to help them offer digital and varied ways to invest and diversify their portfolios. Centered around the XRPL, the new platform opens doors to improve the way property assets can be obtained, managed, and exchanged.
As Ripple continues to expand its platform, XRP is becoming more valuable and natural for institutional users and developers who are preoccupied with finding dependable blockchain alternatives.
Conclusion
Dubai’s adoption of the XRP Ledger for a $16 billion real estate tokenization plan reinforces XRPL’s strength in real-world applications. The initiative marks a pivotal moment for blockchain-based property investment and signals a future expansion of tokenized asset platforms.
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