[Dubai Land Department launches real estate tokenization platform based on XRP Ledger, expected to reach $16 billion by 2033] The 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. This platform tokenizes property ownership contracts and synchronizes with official real estate records, deployed on the XRP Ledger Blockchain. This initiative is part of a government-backed project, aiming to tokenize 7% of the Dubai real estate market by 2033, amounting to $16 billion. The platform currently only supports transactions in UAE Dirhams and is limited to UAE identification holders, with plans to expand global access in the future. Zand Digital Bank serves as its banking partner, with oversight from the Central Bank of the UAE, Dubai Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation's real estate sandbox.
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SiYu
· 05-27 00:25
Just go for it💪
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UnauthenticatedUsers
· 05-27 00:20
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Snipersinger
· 05-27 00:09
like cryptocurrencies). Staying in the market despite macroeconomic uncertainties or negative news reflects
The Dubai Land Department has launched a property tokenization platform based on the XRP Ledger, expected to reach a scale of $16 billion by 2033.
[Dubai Land Department launches real estate tokenization platform based on XRP Ledger, expected to reach $16 billion by 2033] The 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. This platform tokenizes property ownership contracts and synchronizes with official real estate records, deployed on the XRP Ledger Blockchain. This initiative is part of a government-backed project, aiming to tokenize 7% of the Dubai real estate market by 2033, amounting to $16 billion. The platform currently only supports transactions in UAE Dirhams and is limited to UAE identification holders, with plans to expand global access in the future. Zand Digital Bank serves as its banking partner, with oversight from the Central Bank of the UAE, Dubai Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation's real estate sandbox.