San Francisco-based blockchain company Ripple has joined forces with tokenization infrastructure company Ctrl Alt in order to offer custodial services for tokenized title deeds in Dubai.
In May, Dubai launched the very first tokenized real estate initiative, making it possible for investors to buy tokenized shares of properties in Dubai.
Ctrl Alt recently obtained a license from VARA (Dubai’s Virtual Asset Regulatory Authority) to issue and manage tokenized assets.
Notably, Ctrl Alt has become Ripple’s first custody client in the MENA (Middle East and North Africa) region.
As reported by U.Today, the company recently secured key approval in Dubai for its flagship RLUSD stablecoin.