Ripple Powers UAE’s First Tokenized Real Estate Project via XRPL

Ripple has taken a major step in expanding its institutional digital asset infrastructure in the Middle East by partnering with Ctrl Alt to support Dubai’s first government-backed real estate tokenization initiative.

The collaboration will see Ctrl Alt utilize Ripple’s digital asset custody technology to securely store tokenized property title deeds on the XRP Ledger (XRPL).

The initiative, led by the Dubai Land Department (DLD), represents the first time a Middle Eastern government entity has tokenized real estate title deeds on a public blockchain. By leveraging the scalability and security of the XRPL, the project aims to transform property ownership and investment in Dubai, positioning the emirate as a global leader in blockchain-based real estate innovation.

Ripple’s regional expansion

Ripple’s partnership with Ctrl Alt marks its first major digital asset custody deal in the UAE, reflecting rising demand for secure, compliant infrastructure in the region. Ripple now serves institutional custody clients across Europe, the Middle East, Africa, Asia-Pacific, and Latin America. Reece Merrick, Managing Director of Ripple for the Middle East and Africa, hailed the DLD initiative as a benchmark for public-sector blockchain adoption and praised the XRPL’s role in powering institutional-grade financial use cases.

Ctrl Alt’s regulatory milestone and vision

Ctrl Alt recently became the first Virtual Asset Service Provider (VASP) licensed by Dubai’s VARA to offer issuer-related services. This enables the company to deliver end-to-end real-world asset tokenization—from issuance to custody, on-chain settlement, and full lifecycle management. According to Ctrl Alt founder Matt Ong, the decision to partner with Ripple stems from the company’s robust security standards and trusted technology stack.

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By enabling secure tokenization and custody of real estate assets, the Ripple–Ctrl Alt partnership opens the door for broader global access to Dubai’s property market, lowering entry barriers and enhancing transparency. The project is a flagship example of how public-private collaboration can drive blockchain innovation at scale.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.