Ripple has partnered with Ctrl Alt to enhance the tokenization of real estate deeds in Dubai, utilizing secure digital asset solutions, following Ctrl Alt's recent receipt of a Virtual Asset Service Provider license from VARA, which enables compliant asset issuance and management.

This initiative marks the first instance of a Middle Eastern government real estate authority tokenizing property deeds on a public blockchain, with Ripple's Managing Director for the Middle East and Africa, Reece Merrick, highlighting Dubai's innovative approach and the project's potential as a model for other governments.

The collaboration underscores Dubai's commitment to blockchain in real estate, aiming to position the city as a global leader and support its goal of becoming a hub for blockchain-driven real estate and financial innovation.

With a GDP of approximately $277 billion, the UAE offers substantial opportunities for institutional-grade tokenization, and Ctrl Alt has already tokenized over $325 million in assets, reflecting the country's growing influence in this sector.

Ripple's broader strategy to expand its presence in the UAE includes this custody deal, following its licensing as a blockchain payments provider by the Dubai Financial Services Authority earlier in 2025.

Ripple's custody network has expanded globally, now covering Europe, the Middle East, Africa, Asia-Pacific, and Latin America, serving a growing clientele in these regions.

The global market for tokenized illiquid assets is projected to reach $16 trillion by 2030, attracting major financial institutions to tokenization initiatives.

The positive market response has led to nearly a 4% increase in the XRP token's value, approaching the $3 mark.