Oh, the marvels of modern technology! The city of Dubai, known for its grandeur and innovation, has decided to team up with the blockchain company Ctrl Alt to digitize real estate title deeds through the XRP Ledger. This groundbreaking initiative by the Dubai Land Department is a regional first, and it positions Dubai as a global leader in real estate innovation. 🏠🚀
Ripple, the company behind the XRP Ledger, will provide the institutional-grade custody infrastructure, while Ctrl Alt will oversee the lifecycle of these digital assets. Ctrl Alt, recently licensed as a VASP by Dubai’s Virtual Assets Regulatory Authority (VARA), plans to simplify access to premium real estate by enabling fractional ownership. CEO Matt Ong called the partnership a step toward broader investor participation in the market, backed by Ripple’s proven tech. 💸💰
Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, highlighted the project’s significance, noting it could set the standard for blockchain adoption by other government registries. This move builds on Ripple’s increasing presence in the UAE. The firm holds a DFSA license, has launched its RLUSD stablecoin in the region, and is collaborating with financial institutions like Zand Bank. With Ctrl Alt already handling over $325 million in tokenized assets, Dubai is fast becoming a global testbed for real-world asset tokenization. 🌐💼
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2025-07-16 17:48