XRP RWA news: Dubai real estate tokenization project opens secondary trading with Ripple support
CoinDesk
Dubai launched secondary trading for $5 million in tokenized real estate assets on the XRP Ledger, supported by Ripple Custody.Summary
The Dubai Land Department (DLD) and tokenization firm Ctrl Alt have launched a secondary market for real estate-backed tokens, allowing the resale of fractional ownership in ten Dubai properties valued at approximately $5 million. These tokens are recorded on the XRP Ledger blockchain and secured by Ripple Custody, marking the second phase of Dubai's broader plan to tokenize $16 billion of its real estate market by 2033. The project aims to streamline ownership and settlement, although challenges like uneven regulation and liquidity remain industry-wide concerns. The tokens are paired with Asset-Referenced Virtual Assets (ARVAs) to ensure trades comply with Dubai's official property registry.
(Source：CoinDesk)