Ripple, a leading provider of digital asset infrastructure, has entered into a significant partnership with tokenization platform Ctrl Alt to support the Dubai Land Department (DLD) in its pioneering Real Estate Tokenization Project. This collaboration marks a historic moment in blockchain innovation, as Dubai becomes the first government in the Middle East to tokenize property title deeds on a public blockchain using the XRP Ledger (XRPL).
Through this partnership, Ctrl Alt will implement Ripple’s enterprise-level digital asset custody technology to securely manage the tokenized property titles. The development highlights Ripple’s growing influence in the Middle East while also addressing the rising demand for compliant and scalable digital asset infrastructure in the region.
This initiative represents Ripple’s first major digital asset custody agreement in the UAE, further extending the firm’s reach into key global regions including Europe, Asia-Pacific, Latin America, and the Gulf. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, indicated that the DLD project serves as a model for how government bodies can leverage blockchain technology to drive public sector innovation. He noted that selecting the XRPL for such a high-visibility initiative demonstrates confidence in its reliability for institutional-level use.
Ctrl Alt’s recent approval as a Virtual Asset Service Provider (VASP) by Dubai’s Virtual Asset Regulatory Authority (VARA) adds further regulatory backing to the project. As the first entity licensed for issuer-related services under this framework, Ctrl Alt can now deliver a full spectrum of services, from asset creation and custody to on-chain transaction settlement and management.
Matt Ong, CEO of Ctrl Alt, indicated that the company’s collaboration with Ripple aligns with its broader mission to democratize access to real estate investment. By combining Ctrl Alt’s tokenization capabilities with Ripple’s secure custody solutions, the project intends to fractionalize property ownership, allowing multiple investors to participate in real estate markets with increased transparency and efficiency.
In partnership with Ctrl Alt and the Dubai @Land_Department, Ripple Custody will deliver scalable and secure storage for the Dubai Land Department’s tokenized real estate title deeds, which have been issued on the XRP Ledger – enabling fractional ownership, transparency, and…
— Ripple (@Ripple) July 16, 2025
The Real Estate Tokenization Project signifies a broader modernization effort within Dubai’s property sector. By leveraging blockchain technology, the DLD aims to enhance transactional transparency, reduce the investment threshold for market participants, and improve operational efficiency throughout the real estate value chain. Ripple’s technological contributions help ensure the project remains both secure and future-oriented, in line with Dubai’s ambitions to be a global leader in blockchain adoption and digital finance transformation.
Ripple’s regional involvement continues to expand. Earlier this year, the company was part of the first cohort of cross-border payment service providers licensed by the Dubai Financial Services Authority (DFSA). Alongside partnerships with institutions like Zand Bank and fintech firm Mamo, as well as the approval of its RLUSD stablecoin within the Dubai International Financial Centre (DIFC), Ripple is positioning itself as a key force within the UAE’s emerging digital asset ecosystem.
This initiative reinforces Dubai’s commitment to innovation while showcasing how blockchain and tokenization can be integrated into government services to build a more accessible and technologically advanced future for real estate and beyond.