Dubai Advances $5M Real Estate Tokenization Pilot on XRP Ledger

[ed]

Dubai is doubling down on tokenized real estate.

The Dubai Land Department announced the second phase of its real estate tokenization pilot after approximately $5 million worth of property was successfully tokenized — enabling the resale of roughly 7.8 million digital tokens.

Infrastructure partner Ctrl Alt, a licensed Virtual Asset Service Provider in Dubai, will issue asset-referenced virtual asset management tokens, with all onchain transactions recorded on the XRP Ledger and secured by Ripple Custody.

Officials previously projected that tokenization could contribute up to $16 billion to Dubai’s property market by 2033 — roughly 7% of total real estate transactions.

Dubai continues positioning itself as a global hub at the intersection of real estate and digital assets.

[cryptohog]

Dubai tokenizing $5M in property and already talking $16B by 2033. They don’t do small pilots they test and scale