- Ripple and Ctrl Alt secure Dubai’s real estate token storage.
- XRP Ledger enables fractional property ownership in the Dubai project.
- Ctrl Alt gains VASP license, boosting regulated asset tokenization efforts.
Ripple has joined forces with Ctrl Alt to support the Dubai Land Department’s (DLD) Real Estate Tokenization Project by providing secure custody for tokenized property title deeds. These deeds are now being issued on the XRP Ledger, marking a shift toward blockchain-based real estate registration in the region.
According to Ripple, Ctrl Alt will utilize its institutional-grade custody solution to ensure secure and compliant storage of these digital assets. The project enables fractional ownership of property, offering both local and global investors broader access to Dubai’s real estate market through a trusted digital framework.
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Dubai Land Department Moves to Public Blockchain
The DLD is the first real estate registration authority in the Middle East to issue property title deeds on a public blockchain. By selecting the XRP Ledger for this initiative, Dubai demonstrates its commitment to using blockchain for regulated, high-value transactions.
Ripple’s custody infrastructure will be part of the backbone of storing these tokenized assets, cementing its position as a top player in financial-grade digital asset services. Reece Merrick, Ripple’s Managing Director for Mena (Middle East and Africa), stated that this partnership demonstrates the increasing adoption of the XRPL by the public sector.
Ctrl Alt Secures VASP License for Token Custody Use
Ctrl Alt, the designated tokenization provider for the DLD project, recently received its Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority. This license permits the company to offer issuer-related services, effectively linking the full lifecycle of asset tokenization, from issuance to on-chain settlement and secure custody.
CEO Matt Ong confirmed that Ripple’s custody technology aligns with Ctrl Alt’s requirements for secure, scalable digital asset infrastructure. Having tokenized more than $325 million in assets so far, Ctrl Alt plans to use this partnership to extend the reach and capitalization of regulated products to the Dubai real estate market.
With the approval of regulations by the region and liaisons with Zand Bank and Mamo, Ripple’s presence in the region is increasing. It has a licensed custodian network across several continents, which aids financial institutions in handling digital assets in a secure and compliant manner.
Conclusion
The partnership between Ripple and Ctrl Alt provides essential digital infrastructure for Dubai’s move toward tokenized property ownership. This initiative strengthens Dubai’s position as a leader in real estate innovation through blockchain integration.
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