Ripple and Dubai Transform Real Estate Market: First Custodial Deal on XRPL
July 16, 2025, Dubai, UAE — Ripple, a leading provider of digital asset infrastructure, has entered into a landmark agreement with Ctrl Alt to support the Dubai Land Department (DLD) initiative to tokenize real estate ownership rights. This project marks the first time in the Middle East region's history that a governmental body is using the public blockchain XRP Ledger (XRPL) for digitizing real estate documents, opening new horizons for market transparency and accessibility.
Innovations in Real Estate: Tokenization on XRPL
The Dubai Land Department, in collaboration with Ripple and Ctrl Alt, has launched a pilot phase of the project to tokenize real estate aiming to transfer ownership rights into digital form on the XRPL blockchain. Ripple's technology provides an institutional-grade custodial infrastructure for secure storage of tokenized documents, while Ctrl Alt is responsible for local implementation and regulatory compliance.
Supported by the Dubai Virtual Assets Regulatory Authority (VARA), this project allows property ownership rights to be divided into tokens, simplifying fractional ownership, increasing transaction transparency, and reducing the need for intermediaries. According to CryptoSlate, the initiative has already garnered positive market feedback: the XRP token price increased by nearly 4%, reaching around $3 at the time of publication.
Strategic Expansion of Ripple in the UAE
The deal with DLD is Ripple's first major custodial initiative in the UAE, strengthening the company's position in the region's rapidly developing digital asset market. Earlier in 2025, Ripple became the first blockchain payments provider to receive a license from the Dubai Financial Services Authority (DFSA). This allowed the company to not only implement its solutions in the UAE but also receive approval for the use of the RLUSD stablecoin in the Dubai International Financial Centre (DIFC).
Rhys Merrick, Ripple's managing director for the Middle East and Africa, noted:
"The DLD real estate tokenization project is an example of a progressive approach that positions Dubai as a hub for the global digital asset industry. The choice of XRPL for this initiative underscores its reliability for large financial solutions."
Furthermore, Ripple actively collaborates with local players such as Zand Bank and Mamo to expand the application of its blockchain solutions in the UAE's financial sector.
The Future of Digital Real Estate in Dubai
The DLD initiative is part of Dubai's broader strategy for the digitalization of urban services and integration of blockchain technologies across various industries, including real estate, finance, and government. Tokenizing ownership rights opens opportunities for global investors, simplifying access to Dubai's real estate market through fractional ownership. According to estimates by the Global Financial Markets Association, the volume of tokenized assets could reach $16 trillion by 2030, highlighting the potential of such projects.
Matt Ong, CEO of Ctrl Alt, emphasized:
"Our collaboration with Ripple allows us to meet the strict security and operational efficiency standards necessary for managing tokenized assets."
Conclusions
Ripple's partnership with Ctrl Alt and DLD not only strengthens the company's position in the UAE but also sets a new standard for using blockchain in real estate management. The choice of XRPL as the project's foundation underscores its reliability and scalability, while Dubai confirms its reputation as a global leader in digital innovation. This step could be a catalyst for further adoption of blockchain technologies in the region and beyond, opening new opportunities for investors and market participants.