Dubai is taking a groundbreaking step in real estate digitalization with the launch of a new tokenization platform built on the XRP Ledger. For the first time, investors can now purchase fractional ownership of property, with title deeds recorded on blockchain. The city aims to tokenize $16 billion worth of real estate by 2033.
XRP Ledger Powers Dubai’s Real Estate Innovation
The Dubai Land Department (DLD), the city’s official real estate authority, has launched Prypco Mint in collaboration with real estate fintech Prypco. This new platform allows investors to buy fractional ownership of Dubai property starting from just 2,000 dirhams (about $540). Ownership is secured on the XRP Ledger, a high-speed, scalable blockchain designed for financial applications.
In its initial rollout, the platform supports dirham-only transactions and is limited to UAE ID holders. However, DLD plans to expand access globally and support multiple platforms in the near future. Zand Digital Bank acts as the official banking partner, while regulatory oversight is provided by the UAE Central Bank, the Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation through its Real Estate Sandbox.
What sets this initiative apart is the seamless integration between blockchain and Dubai’s official property registers. Tokenization infrastructure is provided by Ctrl Alt, which has built direct connections to DLD systems. This ensures blockchain data is always synchronized with traditional government records.
Real Estate Tokenization: More Than a Trend
Dubai’s initiative reflects a broader global shift toward tokenizing traditional assets such as property, bonds, and funds. The benefits are clear: faster transactions, reduced costs, and greater transparency for buyers and regulators alike.
The DLD projects that tokenized real estate will account for around 7% of all property transactions in Dubai by 2033, translating to approximately $16 billion in value. This bold target underlines Dubai’s commitment to blockchain as a foundational tool for a more efficient and inclusive property market.
Choosing the XRP Ledger was a strategic move. The network is known for its low fees, energy efficiency, and ability to process thousands of transactions per second — making it ideal for recording real estate ownership at scale.
With this move, Dubai further cements its status as a global leader in real-world blockchain integration. While other cities experiment with pilot programs, Dubai is already deploying a full-scale, government-backed solution. The project not only opens new opportunities for investors but also sets a benchmark for how real estate transactions could evolve worldwide.
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