Overview
- The Dubai Land Department and Ctrl Alt launched Phase II, enabling regulated resale of fractional property tokens.
- Roughly 7.8 million tokens tied to ten properties are now eligible for secondary trading recorded on the XRP Ledger and secured by Ripple Custody.
- Trading and issuance run through licensed platforms PRYPCO Mint and Ctrl Alt under oversight from Dubai’s Virtual Assets Regulatory Authority.
- Participation is currently limited to UAE Emirates ID holders, with asset-referenced virtual asset controls governing eligibility and trading conditions.
- The step advances Dubai’s 2033 goal to tokenize about 7% of its property market, though analysts warn that liquidity and regulatory frictions could constrain scale.