Ripple has teamed up with UAE-based Ctrl Alt to support Dubai’s push to digitize real estate.

The partnership will see Ctrl Alt — the first VASP in Dubai authorized to provide issuer-related virtual asset services under VARA — leverage Ripple’s (XRP) blockchain-based custody infrastructure to securely store and manage tokenized property title deeds issued by the Dubai Land Department on the XRP Ledger.

Ripple’s technology will support the full lifecycle management of fractionalized real estate titles, enhancing Ctrl Alt’s asset tokenization platform by enabling compliant, on-chain custody of these digital property tokens.

The partnership builds on Ripple’s previous collaborations with UAE-based Zand Bank and Mamo, following its licensing by the Dubai Financial Services Authority and regulatory approval for its RLUSD stablecoin within the Dubai International Financial Centre.

This new partnership with Ctrl Alt further strengthens the XRP Ledger’s role in Dubai’s real estate digitization. It comes shortly after the May 25 launch of Prypco Mint, a government-backed platform developed with Ctrl Alt and built on the XRP Ledger.

The platform enables UAE residents to purchase legally recognized fractional ownership of real estate starting at AED 2,000 (around $545), expanding real estate investment opportunities to smaller investors who previously had limited access. It aims to tokenize up to $16 billion in property by 2033. It’s currently in a pilot phase, restricted to UAE ID holders, and running within the city’s Real Estate Sandbox, a testing environment designed for new property technologies.

Meanwhile, Dubai is accelerating its push to become a global hub for real-world asset tokenization. In May 2025 alone, tokenized real estate sales in the city reached nearly $400 million, accounting for 17.4% of all property transactions.