In another sign that blockchain is moving from proof‑of‑concept to production, U.S. fintech Ripple and UAE property firm CTRL‑ALT have inked a multibillion‑dollar agreement to tokenize luxury real estate on the XRP Ledger (XRPL). Announced Wednesday at Ripple’s “Regenerate MENA” conference in Dubai, the deal aims to issue as much as US $3 billion in on‑chain property tokens over the next three years, according to executives quoted by CoinDesk.
The mechanics
- Each token represents fractional ownership in a CTRL‑ALT residential or mixed‑use development.
- Holders will receive rental‑income distributions automatically via XRPL smart contracts—dubbed “Hooks”—now live on the network’s main‑net after March’s Hooks Amendment.
- KYC onboarding and secondary trading will run through an Abu Dhabi Global Market (ADGM)–licensed exchange slated for Q1 2026 launch.
CTRL‑ALT CEO Ahmed Al‑Nassar said the first tranche—2 percent of a waterfront tower in Dubai Marina—will list before year‑end, priced in both UAE dirhams and XRP.
“XRPL’s speed, low fees and native DEX made it the obvious choice over Ethereum or private ledgers,” Al‑Nassar told reporters.
Why XRP Ledger?
| Metric | XRPL | Ethereum | Polygon |
| Finality | ~4 sec | 12 sec | ~2 sec |
| TPS tested | 1,500 | 30 | 7,000 (but congested) |
| On‑chain DEX | Native | Third‑party | Third‑party |
| Gas fee avg. | < $0.0005 | $2–$5 | $0.05 |
Ripple’s Middle East managing director Reece Merrick noted that XRPL has processed 2.8 billion transactions with zero downtime since 2013, adding credibility for high‑ticket assets like real estate.
A win for Dubai’s digital‑asset push
The UAE already hosts VARA’s bespoke crypto‑license regime and has welcomed Coinbase, Rain and other exchanges. Tokenized real‑estate “provides a compliant on‑ramp for global investors priced out of traditional purchase minimums,” said Saqr Ereiqat, co‑founder of Crypto Oasis. Rental yields in Dubai averaged 6.8 % in 2024—double London’s 3.4 %—making fractional slices attractive when paired with blockchain settlement.
Bigger than NFTs
Tokenization of real‑world assets (RWAs) is one of 2025’s fastest‑growing crypto verticals. Citigroup projects a US $5 trillion addressable market by 2030. With this week’s announcement, XRPL joins Ethereum, Polygon and Avalanche in chasing the RWA mind‑share.
- Franklin Templeton runs a US‑registered money‑market fund on Stellar and Polygon.
- BlackRock is piloting tokenized Treasuries on Ethereum’s EVM‑compatible chains.
- Societe Generale launched its euro stablecoin on Ethereum last month.
Next steps and timeline
| Milestone | Date |
| First property white paper | September 2025 |
| Private‑sale whitelisting | October 2025 |
| Public token launch | December 2025 |
| Secondary‑market DEX liquidity | January 2026 |
| Second tower fractionalization | Q2 2026 |
Merrick hinted that Ripple’s xRapid corridor could later enable XRP‑denominated mortgages settled in seconds rather than days.
Analyst take
VanEck digital‑assets strategist Matthew Sigel told CoinDesk the deal is “a branding coup” for Ripple as it widens beyond cross‑border payments. He cautioned, however, that liquidity and legal‑title recognition remain hurdles:
“Owning a token is not the same as being on the land registry. Regulators will need hybrid solutions linking on‑chain hashes to government databases.”
Outlook
If successful, the CTRL‑ALT project will give the XRP Ledger its first marquee RWA showcase and offer Dubai landlords a programmable alternative to paper deeds. For investors, it presents high‑yield exposure backed by tangible assets—provided local regulators finalize the digital‑title bridge. Either way, the race to tokenize the world’s most valuable asset class now has a new contender, and its name is XRP.