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Ripple has announced a strategic partnership with Ctrl Alt, a tokenization infrastructure provider, marking a significant expansion of its institutional digital asset custody services into the United Arab Emirates. The collaboration aims to power the Dubai Land Department’s (DLD) Real Estate Tokenization Project, which will issue tokenized property title deeds on the XRP Ledger (XRPL).
Ripple Joins Forces With Ctrl Alt
According to the official statement today, Ctrl Alt will leverage Ripple’s institutional-grade custody technology to provide secure and scalable storage for digital assets linked to Dubai’s pioneering real estate tokenization effort. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the importance of this initiative, calling it “a perfect example of the type of forward-thinking, innovative initiative that is positioning Dubai at the heart of the global digital asset industry.”
Merrick emphasized the significance of the project, noting, “This is the first time a government real estate registration authority in the Middle East has tokenized property title deeds on a public blockchain. That the DLD has chosen the XRPL for this is really exciting and reinforces the XRPL’s credentials as the blockchain of choice for serious financial use cases.”
Ctrl Alt’s role as the designated tokenization provider for the DLD project is further strengthened by its recent regulatory milestone. The firm secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), becoming the first VASP authorized to conduct Issuer-related services in the UAE.
This development establishes a compliant framework for real-world asset tokenization, covering issuance, custody, on-chain settlement, and lifecycle management. Matt Ong, CEO and Founder of Ctrl Alt, said, “Partnering with Ripple allows us to leverage proven and trusted technology that meets the highest security and operational standards. We’re excited to work with them and bring Dubai real estate investment opportunities to a wider audience.”
The Dubai Land Department’s Real Estate Tokenization Project represents a major step toward modernizing property investment in the region. By placing property title deeds on the XRPL, the initiative introduces transparency and efficiency while enabling fractional ownership, allowing multiple investors to co-own properties. This approach is designed to broaden market access and create a more liquid, inclusive real estate ecosystem in Dubai.
Ripple’s latest move builds on its growing momentum in the UAE. Earlier this year, Ripple became the first blockchain-enabled payments provider licensed by the Dubai Financial Services Authority (DFSA). The company has since deepened its presence through partnerships with institutions such as Zand Bank and Mamo, both of which are leveraging Ripple’s blockchain-based payment solutions. Additionally, Ripple’s stablecoin, RLUSD, was recently approved by the DFSA as a recognized crypto token for use within the Dubai International Financial Centre (DIFC), reinforcing its regulatory standing in the region.
With over a decade in the digital asset space and more than 60 regulatory licenses globally, Ripple is positioning itself as a key infrastructure provider for financial institutions transitioning into blockchain-based systems. Its custody solutions are designed to meet the highest compliance and security standards, catering to institutions seeking to store, exchange, and move digital assets seamlessly.
Ctrl Alt, which has tokenized over $325 million worth of assets as of July 2025—including real estate, private credit, and alternative investments—brings extensive experience in financial engineering and blockchain infrastructure to the partnership. Its collaboration with Ripple underscores a growing trend: the fusion of regulated tokenization platforms with enterprise-grade custody solutions to facilitate real-world asset integration on blockchain networks.
At press time, XRP traded at $2.92.
XRP price, 1-day chart | Source: XRPUSDT on TradingView.comFeatured image created with DALL.E, chart from TradingView.com
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