Ripple has announced a strategic partnership with Ctrl Alt to provide institutional-grade digital asset custody for Dubai’s landmark Real Estate Tokenization Project.
Author: Sahil Thakur
DUBAI, July 16, 2025 — Ripple has announced a strategic partnership with Ctrl Alt to provide institutional-grade digital asset custody for Dubai’s landmark Real Estate Tokenization Project. This initiative, backed by the Dubai Land Department (DLD), marks the first time a government real estate registration authority in the Middle East is issuing tokenized property title deeds on a public blockchain.
Ctrl Alt will leverage Ripple’s custody infrastructure to store and manage these tokenized assets securely. The project will run on the XRP Ledger (XRPL), chosen for its scalability, compliance, and security.
This collaboration makes Ctrl Alt Ripple’s first major custody partner in the UAE, reinforcing the region’s growing demand for compliant digital asset infrastructure. Ripple now supports custody clients across Europe, the Middle East, Asia-Pacific, Africa, and Latin America.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, called the project “a perfect example of innovation” and praised Dubai’s leadership in digital finance. He emphasized that the XRPL’s adoption by a government entity reflects its readiness for serious financial use cases.
Ctrl Alt recently became the first VASP (Virtual Asset Service Provider) licensed by VARA (Dubai’s crypto regulator) to conduct issuer-related services. This regulatory approval enables end-to-end compliant tokenization, covering issuance, custody, settlement, and lifecycle management.
Matt Ong, CEO and founder of Ctrl Alt, stated that Ripple’s custody platform meets the highest security and operational standards. “Partnering with Ripple allows us to bring Dubai real estate investment opportunities to a wider global audience,” he said.
The tokenization of real estate title deeds will enable fractional ownership, allowing multiple investors to co-own a single property. This model could transform real estate investment by making it more accessible, transparent, and efficient.
This project is part of a larger push by Dubai to modernize its real estate sector through blockchain innovation. Ripple’s growing presence in the region includes:
With over 60 regulatory licenses and registrations worldwide, Ripple continues to expand its role as a trusted provider of digital asset infrastructure. Backed by more than a decade of experience, the company is positioned to deliver secure, compliant services for financial institutions managing digital assets at scale.
| Partner | Region | Primary Use Case | XRP In Use? |
|---|---|---|---|
| Santander | Europe & Latin America | One Pay FX payments | Limited/None |
| American Express | US – UK | Cross-border corridor with Santander | No |
| Standard Chartered | Global (Asia / Middle East / Africa) | Trade finance & cross-border payments | No |
| MoneyGram | North America (Remittance) | ODL using XRP (paused) | Yes |
| SBI Holdings / SBI Remit | Japan & Southeast Asia | Remittance corridors with XRP liquidity | Yes |
| Onafriq (formerly MFS Africa) | Africa, Gulf, UK, Australia | Ripple-enabled remittances | Yes |
| Tranglo | Asia & Middle East | ODL for regional cross-border payments | Yes |
| Travelex Bank | Brazil & Latin America | ODL-powered foreign exchange | Yes |
| Zand Bank & Mamo | UAE (DIFC licensed) | Ripple Payments corridor & crypto on/off-ramps | Yes |
| BDACS | South Korea | Institutional custody for XRP and RLUSD | Yes |
| Unicâmbio | Portugal & Brazil | Crypto-enabled FX for businesses | Likely Yes |
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