Dubai starts 16 billion USD real estate token on XRP Ledger
The Dubai Land Department (DLD) introduced the platform PRYPCO MINT in cooperation with the FinTech company Prepco and the infrastructure partner CTRL Alt. This enables investors to acquire proportionate property ownership rights in Dubai from 2,000 dirhams (approx. 540 US dollars).
The ownership certificates are token on the XRP Ledger and synchronized with the official land register data. The aim is to digitize around $ 16 billion of USD by 2033 by 2033. So it would be the largest tokenization project in the world to date.
Technology and regulatory framework
The technical implementation of the PRYPCO MINT platform is carried out by the company CTRL Alt, which realizes the tokenization of property rights directly on the XRP Ledger – a blockchain that is known for its speed, low costs and regulatory connection ability. The digital property certificates are seamlessly synchronized with the official land register data of the Dubai Land Department.
Access to the platform is currently limited to the owner of a UAE ID. This means that only people with residence or legal status can take part in the United Arab Emirates. Transactions are carried out in United Arab Emirates Dirham (AED). However, a global expansion is already being planned in order to address international investors and transfer the platform to other legal areas.
The regulation takes place through an interaction of several institutions: In addition to the UAE Central Bank, the Dubai Virtual Assets Regulatory Authority (Vara) and the Dubai Future Foundation are also involved. The latter integrates the initiative into its real estate sandbox, an innovation framework that enables new technologies to test and further develop new technologies – with the aim of creating a completely digital and legitimate real estate ecosystem.
Meaning for the global real estate market
The tokenization of property ownership rights enables higher liquidity, lower entry hurdles and transparent transactions. Dubai positions himself as a pioneer in the integration of blockchain technology into the real estate sector. The use of the XRP Ledger underlines the trend, established blockchain for real assets (Real-World Assets). Experts predict that the market for tokenized assets could reach over $ 30 trillion in the coming years.
The introduction of Prypco Mint is already a blueprint for other world cities who are looking for ways, opening capital markets and making real estate more attractive. The platform is an entry option, especially for younger, digital affine investors, which otherwise often remains inaccessible due to high minimum investments. Family offices and funds from Asia and Europe also observe the model carefully. If Dubai's initiative is successful, this could shape the international standard for tokenized real estate markets – with clear framework conditions, strong blockchain infrastructure and state backing.
