• Dubai Land Department launches second phase of real estate tokenization pilot after $5M tokenized, 7.8M tokens sold. • Ctrl Alt, licensed VASP, issues Asset-Referenced Virtual Asset tokens, recorded on XRP Ledger, secured by Ripple Custody. • Dubai forecasts tokenization could add $16B by 2033, 7% of all property transactions. • Dubai’s crypto-friendly regulations position it as a global leader in tokenized real estate. • Maldives’ Trump‑tied resort development plans tokenization via Securitize, aiming to transform financing. • Tokenization promises fractional ownership, liquidity, and streamlined secondary market transactions for high‑value properties.
Article Summaries:
- Dubai’s real‑estate sector is expanding its use of blockchain, with the Dubai Land Department announcing a second phase of a tokenization pilot that followed the recent $5 million worth of properties being tokenized into 7.8 million digital tokens. The pilot will use Ctrl Alt’s “Asset‑Referenced Virtual Asset” tokens, recorded on the XRP Ledger and secured by Ripple Custody, and the department projects the initiative could generate $16 billion by 2033-about 7 % of Dubai’s property transactions. In the Maldives, DarGlobal and World Liberty Financial plan to tokenize a Trump‑branded resort, partnering with Securitize. The announcement came after a crypto‑focused event at Mar‑a‑Lago attended by Goldman Sachs, Coinbase, and several U.S. senators.
Sources: