Particle.news
Download on the App Store
3 ARTICLES
·
2d ago

Dubai Land Department Launches XRP Ledger-Based Platform for Fractional Real Estate Investment

The launch supports a government initiative to digitize $16 billion of property transactions by 2033 through tokenized title deeds on the XRP Ledger.

Image

Overview

  • On May 25 the Dubai Land Department unveiled Prypco Mint, allowing investors to buy fractional ownership in city properties.
  • Title deeds are being tokenized on the XRP Ledger through Ctrl Alt Solutions’ infrastructure, ensuring blockchain records sync with government ledgers.
  • Investors with UAE ID cards can purchase property slices starting at AED 2,000 (about $545) using dirham transactions.
  • Zand Digital Bank is the platform’s banking partner and regulatory oversight is provided by the UAE Central Bank, VARA and the Dubai Future Foundation.
  • Dubai plans to expand Prypco Mint access globally as part of its drive to convert AED 58.7 billion in real estate into digital assets by 2033, tapping into a market projected to reach $26 billion by 2034.