Dubai Aims for a $16 Billion Market with XRP-based Real Estate Tokenization

On May 25, the Dubai Land Department (DLD) announced the launch of the first real estate tokenization investment program in the Middle East and North Africa region through the 'Prypco Mint' platform, built on the XRP Ledger. This initiative was made possible through collaboration with the Virtual Asset Regulatory Authority (VARA) and the Central Bank. Investors can purchase tokenized shares in premium real estate projects in Dubai starting at a minimum of 2,000 dirhams (approximately 77,700 yen). During the pilot phase, all transactions are conducted in UAE dirhams, and cryptocurrencies are not used. Currently, the service is limited to UAE ID holders, but plans for global expansion are underway...