Dubai Land Department Launches Prypco Mint, a Real Estate Tokenization Platform Based on XRP Ledger, Expected to Reach $16 Billion by 2033

Odaily News Dubai Land Department (DLD) has partnered with real estate fintech company Prypco and infrastructure provider Ctrl Alt to launch the first real estate tokenization platform, Prypco Mint. The platform tokenizes property title deeds and synchronizes official real estate records, deployed on the XRP Ledger blockchain. The move is part of a government-backed project that is expected to tokenize 7% of Dubais real estate market, or $16 billion, by 2033. The platform currently only supports transactions in UAE dirhams and is only available to Emirates ID holders, with global access to be expanded in the future. Zand Digital Bank serves as its banking partner, and supervision is provided by the Central Bank of the UAE, the Dubai Virtual Asset Regulatory Authority (VARA) and the Dubai Future Foundations real estate sandbox.