Dubai Launches Government-Backed Property Tokenization on XRP Ledger

Dubai is taking a major step toward the future of digital real estate with the launch of a government-backed property tokenization project built on the XRP Ledger. Property deed tokenization allows assets to be converted into fractional digital units, enabling global trading. Investors can now purchase a share in a property for as little as AED 2,000.

The initiative is developed in partnership with Ctrl Alt and operates via the PRYPCO Mint platform. It lowers traditional entry barriers into real estate and offers enhanced transparency by leveraging a public blockchain.

In the long term, Dubai authorities project that tokenized property will account for 7% of total real estate transactions, amounting to AED 60 billion by 2033. The direct involvement of the Dubai Land Department ensures a robust legal framework, setting this project apart from similar efforts in other regions.

This move could accelerate blockchain adoption in the real estate sector and serve as a model for other jurisdictions aiming to digitize physical assets.