In a groundbreaking announcement, Ripple has partnered with Ctrl Alt, a leader in tokenization infrastructure, to enhance its institutional digital asset custody services within the United Arab Emirates. This collaboration is aimed at revolutionizing the Dubai Land Department’s (DLD) Real Estate Tokenization Project, which will utilize the XRP Ledger (XRPL) to issue tokenized property titles.

Ripple Collaborates with Ctrl Alt

As per the recent press release, Ctrl Alt will harness Ripple’s advanced custody solutions to ensure the safe and efficient storage of digital assets associated with Dubai’s innovative real estate initiative. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, emphasized the project as a pivotal step in positioning Dubai as a leader in the global digital asset landscape.

Merrick stated, “This initiative marks a historic moment, being the first time a governmental authority in the region has embraced public blockchain technology for property registration. The DLD’s choice of XRPL is a testament to its capabilities as a robust solution for significant financial projects.”

Ctrl Alt’s role as the tokenization partner for this project is augmented by its recent achievement of obtaining a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), making it the first VASP licensed for Issuer-related services in the UAE.

This achievement establishes a thorough and regulatory-compliant framework for asset tokenization, encompassing aspects such as issuance, custody, on-chain settlement, and asset lifecycle management. CEO and Founder of Ctrl Alt, Matt Ong, remarked, “Our partnership with Ripple allows us to utilize cutting-edge technology that adheres to the strictest security and operational standards, enabling us to democratize real estate investment opportunities in Dubai.”

The Dubai Land Department’s Real Estate Tokenization Project is a transformative effort aimed at modernizing property investments. By transitioning property title deeds onto the XRPL, the project not only enhances transparency and efficiency but also introduces fractional ownership, enabling a larger pool of investors to participate in property ownership. This facilitates a more accessible and fluid real estate market in Dubai.

Ripple’s initiatives further solidify its presence in the UAE. Earlier this year, Ripple was the pioneering blockchain-enabled payment provider to earn a license from the Dubai Financial Services Authority (DFSA). It has enhanced its influence through collaborations with notable institutions like Zand Bank and Mamo, both of which are adopting Ripple’s blockchain-based solutions for payments. Additionally, Ripple’s RLUSD stablecoin received recognition as a compliant crypto token by the DFSA for use in the Dubai International Financial Centre (DIFC), confirming Ripple’s strategic position in the region.

With over a decade of experience in the digital assets domain and more than 60 regulatory approvals around the globe, Ripple has established itself as a vital infrastructure player for financial firms embracing blockchain technology. Its custody offerings are tailored to meet elevated standards of compliance and security, serving institutions that need to efficiently manage, exchange, and secure digital assets.

Having tokenized assets worth over $325 million by July 2025—including sectors like real estate, private credit, and alternative investments—Ctrl Alt brings substantial expertise in financial technology and blockchain systems to this partnership. Their collaboration with Ripple signifies a growing trend in the market: merging regulated tokenization platforms with high-caliber custody solutions to facilitate the integration of tangible assets onto blockchain platforms.

As of the latest market data, XRP is trading at $2.92, reflecting ongoing interest in the digital asset sector.