Dubai has taken another step toward large-scale real-world asset tokenization by enabling secondary market trading of tokenized real estate valued at over $5M.
The initiative, led by the Dubai Land Department in partnership with tokenization firm Ctrl Alt, allows fractional ownership of properties to be resold within a controlled market environment.
Nearly 7.8M tokens linked to ten properties are now eligible for trading. Transactions are recorded on the XRP Ledger and secured using Ripple Custody, with ownership data synchronized directly with Dubai’s land registry.
The project forms part of Dubai’s long-term strategy to tokenize $16B in real estate assets by 2033. Officials say the initiative aims to improve liquidity, transparency, and accessibility in property markets while ensuring regulatory oversight through licensed platforms and on-chain recordkeeping.
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