Ripple partners with Ctrl Alt to adopt XRP Ledger for real estate tokenization in Dubai | CoinDesk JAPAN

• Ripple announced a partnership with Ctrl Alt, based in the UAE. This aims to expand custodial services for institutional investors in the Middle East and support the digitalization efforts of the real estate sector in Dubai.
• Ctrl Alt utilizes Ripple's custody infrastructure to store tokenized real estate certificates on the XRP Ledger.
• Ripple's technology supports the management of fragmented real estate title deeds and enhances the tokenization infrastructure of Ctrl Alt.

Ripple has partnered with Ctrl Alt Solutions, a tokenization platform based in the United Arab Emirates (UAE), to expand custody services for institutional investors in the Middle East to support the Dubai government's digitalization initiative for real estate.

With the announcement of this partnership on July 15, Ctrl Alt will utilize Ripple's custody infrastructure to store tokenized property titles issued by the Dubai Land Department (DLD) on the XRP Ledger (XRPL).

Ripple's technology supports the secure storage and lifecycle management of fractional real estate title deeds, which is a key component of the end-to-end infrastructure for asset tokenization on Ctrl Alt.

Ctrl Alt has recently become the first cryptocurrency service provider (VASP) authorized to provide issuer-related services under the Virtual Assets Regulatory Authority (VARA) in Dubai, directly linking token issuance to on-chain custody.

This move comes as the momentum of cryptocurrency in Dubai is expanding. Ripple obtained a license from the Dubai Financial Services Authority (DFSA) earlier this year and subsequently announced partnerships with local banks and payment companies such as Zand Bank and Mamo, and has secured approval for the RLUSD stablecoin within the Dubai International Financial Centre (DIFC).