Dubai Unveils Real Estate Tokenization Platform on XRP Ledger Amid $16B Initiative
Dubai Launches Tokenized Real Estate Platform on XRP Ledger
A Dubai government agency has launched its first real estate tokenization platform, allowing investors to purchase fractional ownership in property, with title deeds recorded on the XRP Ledger blockchain.
Key Highlights:
The Dubai Land Department (DLD) unveiled the platform in collaboration with real estate fintech Prypco and infrastructure provider Ctrl Alt.
The new platform, Prypco Mint, tokenizes official property title deeds and syncs them with government records via the XRP Ledger.
This launch is part of a broader initiative aiming to tokenize 7% of Dubai’s real estate market—estimated at $16 billion—by 2033.
Fractional Ownership Starting at AED 2,000
Prypco Mint allows investors to buy fractional stakes in Dubai properties starting at just AED 2,000 (approx. $540). In its initial phase, the platform supports transactions in UAE dirhams and is open to UAE ID holders only. However, global access and multi-platform support are planned for future phases.
Infrastructure and Regulatory Oversight
Ctrl Alt, the tokenization specialist, provides the technical infrastructure and has fully integrated with DLD systems to ensure blockchain and government records remain synchronized.
Zand Digital Bank acts as the banking partner.
Regulatory oversight is managed by the UAE Central Bank, Dubai’s Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation via its Real Estate Sandbox.
Dubai’s Vision for Real Estate Tokenization
This platform launch aligns with Dubai’s broader push to digitize its thriving property market through blockchain technology. The DLD estimates that tokenized property could account for 7% of total real estate transactions—or around $16 billion—by 2033.
Tokenization, which involves recording ownership of real-world assets like property or bonds on a blockchain, is gaining global traction. With the potential to streamline transactions, reduce costs, and speed up settlements, analysts at Ripple, BCG, and McKinsey project the tokenized asset market could grow into a multi-trillion-dollar industry in the coming years.