Ripple Partners With Ctrl Alt to Expand Custody Footprint Into Middle East

Ripple has partnered with Ctrl Alt, a tokenization platform, to support the Dubai Land Department's (DLD) Real Estate Tokenization Project, expanding Ripple's custody footprint in the Middle East, specifically the UAE. This collaboration marks the first instance of a government real estate authority in the Middle East tokenizing property title deeds on a public blockchain, choosing Ripple's XRP Ledger (XRPL). Ctrl Alt, having obtained a Virtual Assets Service Provider (VASP) license in Dubai, will use Ripple's custody technology for compliant production, administration, and distribution of Asset-Referenced Virtual Assets (ARVA) and tokenized real-world assets for the DLD project. Ripple's stablecoin, RLUSD, now has Ctrl Alt as its first major custody partner in the Arab Emirates, with its network now including clients in Europe, Africa, Asia-Pacific, and Latin America. This partnership follows Ripple securing a license to offer crypto payments in the UAE and acquiring brokerage firm Hidden Road for $1.25 billion.