Dubai Just Tokenized a $1 Million Luxury Apartment on the XRP Ledger | BitMart News

Ripple’s tokenization project with the Dubai Land Department has taken a significant step.

Crypto analyst Steph Is Crypto (@Steph_iscrypto) shared the news on X, highlighting that a luxury apartment valued at over $1 million has been tokenized on the XRP Ledger.

The development is part of a larger government-backed initiative that is drawing attention from investors and the crypto community alike.

The Dubai Land Department (DLD) partnered with tokenization firm Ctrl Alt to make it happen. The initial pilot successfully tokenized ten properties valued at over $5 million in total, resulting in the issuance of 7.8 million tokens. Investors can now buy and sell fractional shares of luxury Dubai real estate for as little as $540.

How the Program Works

The DLD integrated directly with Ctrl Alt’s infrastructure to record property title deeds on the XRP Ledger. Every transaction syncs in real time with Dubai’s official land registry. Ripple Custody secures the backend. Zand Digital Bank serves as the banking partner, with regulatory oversight from the UAE Central Bank, Dubai’s Virtual Assets Regulatory Authority, and the Dubai Future Foundation.

The program operates in phases. Phase one established the platform infrastructure. Phase two, launched on February 20, 2026, opened a regulated secondary market. Investors can now trade tokenized property stakes through the PRYPCO Mint portal.

Why XRP?

The XRP Ledger handles thousands of transactions per second. Transaction fees are fractions of a cent. The settlement that previously took weeks now takes seconds. These are the technical qualities that made XRPL the chosen blockchain for one of the most ambitious public-sector tokenization programs worldwide.

The DLD has outlined a plan to tokenize 7% of Dubai’s entire real estate market by 2033. That figure represents approximately $16 billion in assets. The XRP Ledger sits at the center of that roadmap.

What This Means for XRP’s Price Outlook

Real-world asset tokenization is one of the most closely watched use cases in crypto. When a government body selects a specific blockchain to power a $16 billion initiative, it signals institutional-grade confidence in that network.

The community celebrated this development, with many users highlighting the use case for XRP. Demand for XRP grows as transaction volume on the ledger increases, since XRP is used as the settlement layer. Each new property added to the program generates ledger activity, increases utility, and strengthens the case for XRP as infrastructure for traditional finance.

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