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Ripple and Ctrl Alt Tokenize Real Estate in Dubai Using XRPL
In a groundbreaking move, Ripple and Ctrl Alt have partnered to tokenize real estate assets in Dubai using the XRP Ledger. This innovative initiative marks a major milestone for the blockchain industry as it allows for secure and transparent property ownership registration.
Under this partnership, Ctrl Alt will integrate its technology with Ripple’s institutional-grade custody infrastructure to store tokenized title deeds securely on the XRPL. The project aims to democratize real estate investment by enabling fractional ownership and promoting greater transparency in the process.
The Dubai Land Department has issued tokenized deed certificates on the XRP Ledger, marking a significant step forward for blockchain integration into government property registration systems in the Middle East. This collaboration underscores the potential of Ripple’s technology in facilitating secure digital asset storage and management.
Reece Merrick, Managing Director for Ripple’s Middle East and Africa operations, hailed this initiative as a landmark development that places Dubai at the forefront of digital asset adoption. He emphasized that the DLD’s decision to use XRPL confirms the network’s maturity for enterprise-grade applications.
The tokenization of real estate in Dubai is expected to unlock significant opportunities for investors and property owners alike. With Ripple’s custody technology, this project will ensure the secure management and trading of these digital assets.
Source: cryptotale.org
