Ripple is bringing institutional digital assets custody to the UAE through a partnership with Ctrl Alt, a tokenisation infrastructure platform.
The partnership acts as a strategic move to progress the Dubai Land Department’s (DLD) Real Estate Tokenisation Project.
“The Dubai Land Department’s Real Estate Tokenisation Project is a perfect example of the type of forward-thinking, innovative initiative that is positioning Dubai at the heart of the global digital asset industry,” said Reece Merrick, managing director, Middle East and Africa at Ripple.
Ctrl Alt will be using Ripple’s institutional-grade custody technology to support the DLD Real Estate Tokenisation Project by storing Dubai’s tokenised real estate title deeds, issued on the XRPL.
“This is the first time a government real estate registration authority in the Middle East has tokenised property title deeds on a public blockchain,” added Merrick.
The partnership positions Dubai as one of the pioneering locations of tokenised real estate, encouraging investor participation and operational efficiency.
“As the designated tokenisation provider for the DLD Project, Ctrl Alt brings deep expertise in financial engineering and digital asset infrastructure, so it makes sense for us to partner with Ripple to use their custody technology to support this initiative,” said Matt Ong, CEO and Founder at Ctrl Alt.
Earlier this year, Ripple became the first blockchain-enabled payments provider to gain licensing from the Dubai Financial Services Authority (DFSA).
“Partnering with Ripple allows us to leverage proven and trusted technology that meets the highest security and operational standards,” said Ong.
