Ripple expanded its institutional childcare services in the Middle East, by associating with the CTRL Alt water tokenization platform to support the real estate digitization initiative led by the Dubai government.
The agreement, announced on Tuesday, will see Ctrl Alt use the Ripple guard infrastructure to store the acts of the title of tokenized property issued by the Dubai Land Department (DLD) on the Ledger XRP (XRPL).
Ripple technology underpins the secure management of storage and life cycle of fractionalized real estate securities, which constitutes a key component of end-to-end infrastructure for the tokenization of assets.
Ctrl Alt has recently become the first Dubai VASP authorized to provide services related to transmitters under the Virtual Assets Regulatory Authority (VARA), linking the delivery of tokens directly to police custody.
This decision comes in an increasing momentum for cryptocurrencies in Dubai. Ripple obtained a license from the Dubai Financial Services Authority (DFSA) at the beginning of this year and has since launched partnerships with Zand Bank and Mamo, and has obtained the approval of its Rlusd license with the Dubai International Financial Center (DIFC).
