Dubai Goes Full Blockchain: Ripple Wins Gov’t Backing for Real Estate Tokenization Revolution

Dubai just handed Ripple the keys to its property market—literally. The emirate's government tapped the crypto giant to custody tokenized real estate assets, marking the biggest institutional endorsement of blockchain-based property trading to date.

Why it matters: This isn't some theoretical DeFi experiment. We're talking about actual skyscrapers and luxury villas getting sliced into digital shares on-chain. The move could unlock billions in frozen capital—assuming anyone still remembers how to value real estate after the 2024 commercial property crash.

The fine print: No official dollar figures were disclosed (classic Dubai opacity), but insiders suggest the initial tokenization pipeline includes high-value developments along Sheikh Zayed Road. Ripple's CBDC-friendly reputation likely sealed the deal—because nothing says 'innovation' like government-approved blockchain.

Bottom line: When even conservative Gulf states start digitizing hard assets, the writing's on the blockchain wall. Traditional finance might want to pay attention—if they can look up from their spreadsheets long enough to notice the disruption.

Dubai has tokenized over three properties so far

Less than a month after the first tokenized property was sold out, PRYPCO Mint, the joint initiative between the Dubai Land Department (DLD) and PRYPCO licensed by the VIRTUAL Assets Regulatory Authority (VARA), offered second tokenized property listing which sold out in less than two minutes.

The property at Kensington Waters was worth $653,000, PRYPCO offered investors the chance to own parts of the property starting at 2,000 AED, which is equivalent to $544.

Launched on 25 May 2025, PRYPCO Mint listed its first property that was sold out in less than 24 hours. The two-bedroom apartment in Business Bay attracted 224 investors from over 40 nationalities, with an average investment of AED 10,714 or $2,900.

Soon after a third property was funded in just 5 minutes by 169 investors. The property was the first tokenized villa to be funded.

Today PRYPCO Mint dropped two New Properties in Dubai Marina and MBR City.

Additionally the Dubai Land Department recently announced it will be using crypto for payments.

Two new #tokenised #properties drop tomorrow at 11 AM! 🏙️

Get ready to invest in #DubaiMarina and #MBRCity, two of the most iconic locations in #Dubai, soon.

Stay tuned, top up your wallet, and don’t miss your chance to own a piece of Dubai 🔗 https://t.co/aBQx00aLuv pic.twitter.com/vlpSAvFr1J

Ripple has expanded its offering in the UAE

Ripple has been expanding its offering in the UAE, first when it got licensed as the first blockchain-enabled payments provider by the Dubai Financial Services Authority (DFSA). Secondly, when it partnered with Zand Bank, which is also partnering with the DLD project, and Mamo, who will utilize Ripple’s blockchain-enabled cross-border payments solution. And third, when Ripple’s stablecoin RLUSD was recognized as a crypto token by the DFSA for use within the Dubai International Financial Centre (DIFC).

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