Ripple announced on July 16 a major step into the UAE’s tokenized asset market, reinforcing its global custody network through a partnership supporting Dubai’s real estate digitization. The U.S.-based digital asset infrastructure provider revealed that Ctrl Alt will implement Ripple’s custody platform in the Dubai Land Department’s (DLD) Real Estate Tokenization Project.

“The partnership sees Ctrl Alt using Ripple’s institutional-grade digital asset custody technology to support the Dubai Land Department’s (DLD) pioneering Real Estate Tokenization Project by delivering scalable and secure storage for Dubai’s tokenized real estate title deeds, which are being issued on the XRP Ledger (XRPL),” Ripple shared. This collaboration positions Ctrl Alt as Ripple’s first major custody partner in the UAE and aligns with the city’s ambition to lead blockchain innovation in real estate.

Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, underscored the significance of the project:

This is the first time a government real estate registration authority in the Middle East has tokenized property title deeds on a public blockchain. That the DLD has chosen the XRPL for this is really exciting and reinforces the XRPL’s credentials as the blockchain of choice for serious financial use cases.

Ctrl Alt, which holds a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority, will manage asset issuance while Ripple ensures secure on-chain custody throughout the lifecycle of the tokenized deeds.

Dubai’s strategy enables fractional ownership of real estate, expanding access to institutional-grade investment opportunities. Ripple, already licensed by the Dubai Financial Services Authority, has partnered with Zand Bank and Mamo, and received regulatory approval for its RLUSD stablecoin within the Dubai International Financial Centre. With over 60 licenses worldwide, Ripple is solidifying its infrastructure role in tokenized markets spanning real estate, payments, and custody.

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