Dubai Unveils Tokenized Real Estate Platform with Prypco and Ctrl Alt on XRP Ledger
The Dubai government has made a groundbreaking move in real estate technology by launching its first tokenized real estate platform. Developed in collaboration with real estate fintech Prypco and infrastructure provider Ctrl Alt, this initiative marks a major step toward digitizing the property sector.
The platform, named Prypco Mint, enables the tokenization of property title deeds using the XRP Ledger. It integrates directly with Dubai’s official property records, ensuring seamless synchronization and transparency.
This development supports Dubai’s wider initiative to tokenize up to 7% of its real estate market—valued at approximately $16 billion—by the year 2033.
Dubai Land Department’s Strategic Vision
The Dubai Land Department (DLD), the governmental authority overseeing real estate matters, is leading this initiative. Prypco Mint, launched in partnership with Prypco, empowers investors to buy fractional shares of Dubai properties. Investments can start at just 2,000 dirhams (about $540), making property ownership more accessible to local residents.
In its current phase, the platform supports transactions only in dirhams and is restricted to UAE ID holders. However, plans are underway to open the platform globally, introducing wider accessibility and integration with additional platforms in the near future.
The project has appointed Zand Digital Bank as the official banking partner, while regulatory oversight is ensured by the UAE Central Bank, Dubai’s Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation’s Real Estate Sandbox.
XRP Ledger and Ctrl Alt Powering Tokenization
The technical core of this initiative is built by Ctrl Alt, a tokenization infrastructure provider. Their system uses the XRP Ledger blockchain to tokenize and record real estate title deeds. By linking directly with the DLD’s internal systems, the platform guarantees that blockchain-based records mirror the government’s traditional real estate ledgers accurately and in real time.
This initiative highlights Dubai’s broader strategy to push ahead with tokenization in real estate, one of the most promising applications in the world of blockchain. The move could bring efficiency, cost-effectiveness, and transparency to real estate transactions in the region.
Future of Real Estate Tokenization in Dubai
Tokenization is transforming the way traditional financial assets—like bonds, mutual funds, and now real estate—are owned and traded. By leveraging blockchain technology, it offers faster, more secure, and cost-effective methods for recording ownership and executing transactions.
Major financial institutions and consultancies like Ripple, Boston Consulting Group (BCG), and McKinsey have predicted that the tokenized asset market could scale into the multi-trillion-dollar range in the coming years. Dubai’s latest launch places it at the forefront of this evolving global trend.
By 2033, the Dubai Land Department anticipates that 7% of all real estate transactions, worth roughly $16 billion, could be conducted via tokenized platforms like Prypco Mint.
Final Thoughts
Dubai’s embrace of real estate tokenization through strategic partnerships and cutting-edge blockchain infrastructure reflects its commitment to becoming a global hub for financial and technological innovation. The Prypco Mint platform could redefine property ownership, attract new investors, and set a precedent for digital real estate transactions worldwide.
Stay tuned as Dubai continues to lead in adopting smart city technologies and blockchain-based innovation for the real estate sector.
