The Dubai Land Department (DLD), an official government entity that regulates, documents, and promotes the real estate sector in Dubai, has announced the launch of its first blockchain-based platform. Token payments in this project would be backed up and secured by Ripple Custody, with XRP Ledger facilitating on-chain real estate transactions. News of the project’s progress coincided with a modest price uptick for XRP. According to real-time market data, XRP has been trading around $1.43, posting roughly a 2 % gain over recent sessions. The digital transformation program, known as Prypco Mint, is expected to drive the Dubai Property Regulatory Authority’s ambition to digitize $16 billion in real estate by 2033. To create that incredible experience, the DLD collaborated with the prop-tech firm Prypco, based in Dubai. This move prompted several reporters to reach out to the Land Department for comment. In response to this request, the government entity shared a press release stating that this project will allow investors to purchase fractional ownership of Dubai properties in local currency, starting at 2,000 dirhams (AED), or $540. In the initial phase, the platform will be restricted to United Arab Emirates (UAE) residents with a valid Emirates ID and will only accept transactions in AED. Nonetheless, sources confirmed that the Dubai Real Estate Governing Body made clear its intentions to accelerate international expansion and broaden platform integration soon. Dubai embraces a significant strategic move in its real estate sector Just recently, the Dubai Land Department announced its intention to initiate the second phase of a pilot program focused on real estate tokenization. The Land Department adopted this decision after $5 million in Dubai-based property was successfully tokenized, making around 7.8 million tokens representing fractional ownership in various Dubai properties available for resale. Interestingly, the pilot phase saw properties sell out in under two minutes. It is worth noting that Ctrl Alt, a London-based, regulated technology provider serving as the partner supplying this pilot’s tokenization technology, will issue Asset-Referenced Virtual Asset management tokens to facilitate secondary-market transfers of these tokens. Following this announcement, several analysts shared that Dubai’s property market and crypto-friendly regulations have positioned the city as a global leader. After conducting thorough research, the analysts noted that Ctrl Alt made public the Asset-Referenced Virtual Asset management tokens project just after DarGlobal, a London Stock Exchange-listed international real estate developer, and World Liberty Financial, a decentralized finance protocol backed by US President Donald Trump and his sons, revealed plans for the tokenization of a Trump-branded resort, which is under development in the Maldives. Regarding DLD’s first blockchain-based real estate platform, reports highlighted that Zand Digital Bank serves as the venture’s banking partner, while the UAE Central Bank, the Dubai Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation provide oversight. The Dubai Future Foundation will offer these measures using its dedicated PropTech Sandbox, designed to test and scale real estate technologies. In a statement, the Founder and CEO of Ctrl Alt, Matt Ong, pointed out that, “We are excited to build the tokenization infrastructure that allows DLD’s partners to provide fractional real estate opportunities to investors. Dubai’s leadership in adopting advanced financial technologies is truly exceptional, and this project signals great things ahead.” At this moment, sources with knowledge of the situation who wished to remain anonymous due to the confidential nature of the matter revealed that the Dubai Real Estate Governing Body chose the XRPL for its project due to its unique characteristics: swift transaction speeds, lower fees, and compliance with local regulatory frameworks. Several individuals demonstrated heightened interest in XRPL’s infrastructure Ripple has conscientiously developed the XRPL’s infrastructure, specifically gearing it toward institutional and enterprise use cases. Last year, reports highlighted that the San Francisco-based financial technology company allocated about $10 million into OpenEden as part of a broader move to support tokenized Treasury bills. Afterwards, it pledged $5 million to Abrdn’s Luxembourg-based tokenized fund. In the meantime, analysts discovered that tokenization on XRPL has surged by more than 2,200%, attributing this increase to transparent regulations adopted after the SEC’s crucial decision in August 2025 and to new collaborations, such as Archax and Ripple’s acquisition of Hidden Road. At this point, several individuals wondered whether the increased adoption of XRP in DeFi would continue this year and whether it could boost the token’s value. Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program
