Dubai Land Department to Issue Real Estate Title Deeds on the XRP Ledger

Key Points

1. The Dubai Land Department (DLD) is issuing tokenized real estate title deeds on the XRP Ledger, a first for a government real estate authority in the Middle East.

2. The project is a collaboration between DLD, tokenization provider Ctrl Alt, and Ripple, which will provide institutional-grade custody for the tokenized assets.

3. Ctrl Alt recently received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling it to conduct issuer-related activities.

4. Ripple’s custody technology will be integrated within a fully compliant framework, marking its first major custody collaboration in the UAE.

5. Ripple holds over 60 licenses globally, including approval from the Dubai Financial Services Authority (DFSA), which also recognizes its RLUSD stablecoin.