Ripple has expanded its institutional custody services into the Middle East by partnering with Ctrl Alt, a UAE-based tokenization platform. The collaboration supports a Dubai government initiative to digitize the real estate sector.
Announced on Tuesday, the partnership will see Ctrl Alt leverage Ripple’s custody infrastructure to store tokenized property titles from the Dubai Land Department (DLD) on the XRP Ledger (XRPL). Ripple’s technology will provide secure storage and lifecycle management for these fractionalized real estate assets.
The agreement capitalizes on Ctrl Alt’s recent authorization as the first Virtual Asset Service Provider (VASP) in Dubai approved by the Virtual Assets Regulatory Authority (VARA) for issuer-related services, which directly links token issuance to on-chain custody.
This move marks another significant step in Ripple’s growing presence in the region. The company received a license from the Dubai Financial Services Authority (DFSA) earlier this year, has established partnerships with Zand Bank and Mamo, and secured approval to launch its RLUSD stablecoin within the Dubai International Financial Centre (DIFC).
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