tl;dr
Ripple has partnered with tokenization platform Ctrl Alt to support the Dubai Land Department’s Real Estate Tokenization Project, aiming to expand their presence in the UAE's growing asset infrastructure market. Ripple’s stablecoin RLUSD, launched last year, has Ctrl Alt as its first major custody p...
Ripple has announced a strategic alliance with tokenization platform Ctrl Alt to support the Dubai Land Department’s (DLD) Real Estate Tokenization Project. This collaboration aims to broaden the reach of both companies within the UAE, reflecting the region’s rising demand for secure and compliant asset infrastructure.
Ripple’s stablecoin, RLUSD, launched late last year, has secured Ctrl Alt as its first major custody partner in the Arab Emirates. Ripple’s network now spans clients across Europe, Africa, Asia-Pacific, and Latin America. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the significance of this partnership, praising the DLD’s innovative approach in tokenizing property title deeds on a public blockchain — a first for any government real estate registration authority in the Middle East. The choice of XRPL by DLD underscores the blockchain’s suitability for financial applications.
Ctrl Alt has recently obtained its Virtual Assets Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), authorizing the company to provide issuer-related services. This licensing enables Ctrl Alt to operate a legally compliant platform for managing Asset-Referenced Virtual Assets (ARVA) and tokenized real-world assets. Matt Ong, CEO and Founder of Ctrl Alt, emphasized the company’s expertise in financial engineering and digital asset infrastructure, explaining that partnering with Ripple allows them to implement custody technology that meets stringent security and operational standards.
Dubai's Real Estate Tokenization Project marks a significant step forward in creating a more transparent and effective real estate market. The blockchain minting of property deeds supports fractional ownership, increases investor participation, and improves operational efficiency.
Ripple’s momentum in integration and adoption continues unabated. Earlier this year, Ripple secured a license from the Dubai Financial Services Authority (DFSA) to offer crypto payments in the UAE. Additionally, Ripple acquired the brokerage firm Hidden Road for $1.25 billion, becoming the first crypto company to own and operate a multi-asset prime broker. RLUSD’s integration extends globally, with Swiss bank AMINA adopting it and US banking giant BNY Mellon serving as its custodian.