Dubai Chooses XRP Ledger to Tokenize Local Real Estate Market

• Dubai Adopts XRP Ledger in Real Estate Tokenization
• XRPL Tokenization Reduces Barriers for Investors
• XRP Ledger Attracts Institutions with High Scalability

The Dubai Land Department (DLD) announced The company has chosen the XRP Ledger (XRPL) as the technology base for its new real estate tokenization initiative, in a strategic collaboration that marks a significant step forward in the digitalization of the sector. The announcement, made on May 25, involves partnerships with the Dubai Future Foundation, investment platform Prypco and blockchain infrastructure company Ctrl Alt.

Ctrl Alt will be responsible for the tokenization framework that enables the issuance and tracking of deeds directly on the blockchain. This innovative infrastructure will integrate blockchain-based registries with the traditional DLD system, promoting a unified database for digital and physical real estate transactions.

The initiative aims to democratize access to property through fractional tokenization, enabling real estate investments from just AED 2.000 via the Prypco Mint platform. According to Mahmoud AlBurai , senior advisor at DLD, more than 3.000 investors have already expressed interest, with estimates pointing to $16 billion in tokenized transaction volume by 2033 — about 7% of all real estate transactions in Dubai.

Matt Ong, CEO of Ctrl Alt, stated:
“We are proud to be building the tokenization infrastructure that enables DLD partners to offer fractionalized real estate to investors.” He also praised Dubai’s technological pioneering in the use of emerging financial solutions.

The choice of XRPL was made due to its attributes such as high transaction speed, low fees and compliance with UAE regulatory standards. This move strengthens the XRP Ledger’s role in the tokenized asset market, a sector that has attracted increasing institutional attention.

Ripple has been investing to position XRPL as a viable option for governments and businesses. In 2023, it committed $10 million to tokenizing U.S. Treasuries with OpenEden and another $5 million to a fund with Abrdn focused on tokenized assets.

The previous week, the XRPL also incorporated new stablecoin products, expanding its functionality to payments and custody solutions between traditional financial institutions and fintech companies.