Ripple and Ctrl Alt Partner to Tokenize Property Deeds in Dubai

Ripple has partnered with Ctrl Alt, a tokenization infrastructure platform, to launch a new project in Dubai that turns traditional property title deeds into digital tokens.

Through the partnership, Ctrl Alt will leverage Ripple’s digital asset custody technology to support the Dubai Land Department’s (DLD) Real Estate Tokenization Project.

Ripple will be responsible for providing scalable and secure storage for Dubai’s tokenized real estate title deeds, which are being issued on the XRP Ledger.

The project marks the first time a government real estate registration authority in the Middle East has tokenized property title deeds on the public blockchain.

These tokenized deeds enable fractional ownership of real estate, which will allow multiple investors to co-own a single property. This aims to make it easier for individuals to enter the market without buying entire properties.

The initiative seeks to open Dubai’s real estate market to a global audience while enhancing transparency and accessibility.

Reece Merrick, Managing Director, Middle East and Africa, at Ripple, said: “The Dubai Land Department’s Real Estate Tokenization Project is a perfect example of the type of forward-thinking, innovative initiative that is positioning Dubai at the heart of the global digital asset industry.”

The partnership also marks Ctrl Alt becoming Ripple’s first major custody partner in the UAE.

The DLD Real Estate Tokenization Project, which Ctrl Alt became involved in last month, represents a milestone for asset tokenization and property investment in Dubai.

This initiative positions Dubai at the forefront of efforts to create a more accessible, transparent, and efficient real estate market, which aims to broaden investor participation and improve operational processes.