In a landmark move that further solidifies Dubai’s status as a global blockchain innovator, Ripple has teamed up with tokenization platform Ctrl Alt to support the Dubai Land Department’s (DLD) pioneering Real Estate Tokenization Project. This strategic alliance marks a historic moment in the region, making Dubai the first Middle Eastern government to tokenize real estate title deeds on a public blockchain, specifically the XRP Ledger (XRPL).
A First for the Middle East: Real Estate on the Blockchain
The initiative underscores Dubai’s long-term vision to lead in digital transformation, with real estate now joining the growing list of sectors embracing blockchain. By tokenizing property title deeds, the Dubai Land Department aims to increase transparency, reduce administrative costs, and enable more efficient property transactions. Using Ripple’s institutional-grade digital asset custody solution, Ctrl Alt will provide secure, scalable storage of these tokenized property titles.
This partnership sets a new precedent not only for the UAE but for governments across the Middle East. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, called the project a “blueprint” for how public institutions can integrate blockchain to drive innovation and streamline essential services.
Ripple’s First Major Custody Deal in the UAE
This collaboration represents Ripple’s first significant custodial agreement in the UAE, and a major milestone in the company’s expanding global footprint. Already active across Europe, Asia-Pacific, and Latin America, Ripple is now deepening its presence in the Gulf, where demand for compliant, high-performance digital asset infrastructure is on the rise.
The technology behind the XRP Ledger was chosen for its reliability, scalability, and proven track record in handling institutional-grade applications. Ripple’s entry into the UAE’s blockchain infrastructure through this project highlights the growing maturity of the region’s digital asset ecosystem.
Ctrl Alt Secures VARA License, Unlocking Full Tokenization Lifecycle
For Ctrl Alt, the partnership with Ripple comes shortly after a major regulatory milestone: being licensed as a Virtual Asset Service Provider (VASP) by Dubai’s Virtual Asset Regulatory Authority (VARA). It is the first company licensed specifically for issuer-related services, empowering it to offer end-to-end tokenization—from asset origination to custody, on-chain settlement, and lifecycle management.
With regulatory approval in place, Ctrl Alt is now positioned to lead the UAE’s push into tokenized real estate. The firm’s infrastructure allows for secure, compliant issuance and management of digital real estate assets, setting a standard for how blockchain can be applied in traditional investment markets.
Unlocking Fractional Property Ownership in Dubai
One of the most compelling aspects of the partnership is the promise of fractional real estate ownership. By combining Ripple’s secure custody infrastructure with Ctrl Alt’s tokenization platform, investors can now own a share in real estate assets, lowering the financial barrier to entry and democratizing property investment.
Matt Ong, CEO of Ctrl Alt, emphasized that the project is aligned with the company’s broader mission: making real estate more accessible and liquid. “We’re enabling people to participate in real estate markets in a way that was previously unimaginable—securely, transparently, and with minimal friction,” said Ong.
Supporting Dubai’s Blockchain and Fintech Ambitions
This initiative dovetails with Dubai’s broader strategy to become a global hub for blockchain technology and digital finance. The emirate has taken significant steps in recent years, including the licensing of Ripple by the Dubai Financial Services Authority (DFSA) to provide cross-border payments. Ripple has also established partnerships with Zand Bank and Mamo, while receiving approval to use its stablecoin RLUSD within the Dubai International Financial Centre (DIFC).
Together, these developments are part of a growing ecosystem where innovation, regulation, and infrastructure are working in tandem to build the future of finance.
A Future Blueprint for Governments and Institutions
Dubai’s Real Estate Tokenization Project is more than a regional innovation—it’s a global case study. By harnessing the power of public blockchain, the DLD, Ripple, and Ctrl Alt are showing the world how governments can modernize real estate, enhance investor confidence, and lead in the era of digital assets.
As Ripple and Ctrl Alt roll out this initiative, their partnership stands as a model for how traditional industries can embrace blockchain—not just as a buzzword, but as a practical, scalable solution for real-world problems.
