XRP: Ripple and Ctrl Alt Expand into Middle East Custody

XRP continues to gain traction as Ripple announces its partnership with Ctrl Alt, a platform specializing in tokenization, to support the ambitious Real Estate Tokenization Project initiated by the Dubai Land Department (DLD). This move marks another significant expansion for the blockchain firm into the Middle East, emphasizing the region’s increasing appetite for regulated digital asset infrastructure.

This strategic alliance underscores Ripple’s growing influence in the UAE, a hub for digital finance innovation. The collaboration with Ctrl Alt will help support the infrastructure needed for tokenizing real estate assets in the region, paving the way for more compliant and secure digital asset management solutions.

Ripple Strengthens UAE Presence Through Strategic Custody Expansion

Ripple’s recently launched stablecoin, RLUSD, has secured Ctrl Alt as its first major custody partner in the Arab Emirates. With this partnership, Ripple expands its global outreach, adding clients across Europe, Asia-Pacific, Latin America, and Africa to its network. The deal is expected to fortify Ripple’s footprint in regulated tokenized markets and aligns with its continued goal to provide top-tier custody services for digital assets.

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the importance of this collaboration. He emphasized the pioneering nature of DLD’s initiative, describing it as the first time a public blockchain has been used by a Middle Eastern government authority to tokenize property title deeds. Merrick also praised XRPL for being chosen as the blockchain for such a significant milestone, reinforcing its legitimacy for complex financial implementations.

Ctrl Alt recently obtained a Virtual Assets Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA) of Dubai, positioning itself legally to issue and manage tokenized real-world and asset-backed digital assets. This official standing will allow the company to run a compliant platform that facilitates secure production, upkeep, and distribution of these innovative financial instruments.

Matt Ong, Ctrl Alt’s CEO and founder, expressed confidence in Ripple’s custody solutions, citing its security, reliability, and operational excellence. Ong noted that Ctrl Alt’s role as the designated tokenization provider for the DLD initiative made Ripple a natural partner. By integrating Ripple’s custody technology, they aim to ensure the platform meets the highest standards within digital asset infrastructure.

Dubai’s Real Estate Tokenization Project is a landmark initiative pushing toward a more transparent and efficient property market. The approach involves minting property deeds directly onto the blockchain, thereby enabling fractional ownership, increasing accessibility for global investors, and significantly improving administrative efficiency in the real estate sector.

Ripple Accelerates Global Adoption Through Strategic Deals

The partnership with Ctrl Alt marks only the latest in a series of bold moves by Ripple to scale its presence. Earlier in the year, Ripple secured regulatory approval from the Dubai Financial Services Authority (DFSA), granting it the license to offer crypto payment services within the UAE. This regulatory greenlight reinforces Dubai’s commitment to becoming a global leader in digital finance.

Ripple’s ambitions extended further through the acquisition of the prime brokerage firm Hidden Road, in a landmark $1.25 billion deal. This acquisition made Ripple the first cryptocurrency company to own and manage a multi-asset prime broker, setting a new industry standard for integrated digital asset services.

The stablecoin RLUSD has also achieved several milestones, including integrations with institutional players. Swiss-based bank AMINA has already adopted RLUSD, and major custody services are now being provided by BNY Mellon, America’s oldest bank, demonstrating trust from legacy financial institutions in Ripple’s offerings.

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Through these initiatives, Ripple and its XRP Ledger are solidifying their positions as critical players in redefining global finance, particularly in regions like the Middle East that are embracing blockchain innovation at a rapid pace.