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Dubai has taken a historic step by launching the Middle East and North Africa’s first tokenized real estate investment platform, Prypco Mint. This is a government-backed initiative. It is a collaboration between the Dubai Land Department, VARA (Virtual Assets Regulatory Authority), and the Dubai Future Foundation. It aims to position Dubai as a leader in blockchain-powered real estate investments.
The platform runs on the XRP Ledger (XRPL) blockchain. It allows investors to buy fractional ownership of Dubai properties with a minimum investment of AED 2,000 (about $545). However, investment is currently limited to UAE ID holders. Investment must be made in UAE dirhams (AED). Cryptocurrency payments are not supported at this stage.
Prypco Mint operates within the Real Estate Sandbox, a regulated environment designed for testing innovations in the property sector. It is developed in partnership with Ctrl Alt Solutions for technology infrastructure and Zand Digital Bank as the banking partner.
This initiative reflects Dubai’s strategic focus on regulated, dirham-denominated digital asset platforms that enhance investor confidence and ensure long-term sustainability. While initially restricted to local investors, authorities plan to expand global access and integrate additional platforms in the future.
Ripple Labs, the company behind XRPL, plays a significant role in this project. Last year, Dubai’s Financial Services Authority granted Ripple approval to offer blockchain payment services from the Dubai International Financial Centre, further cementing Dubai’s position as a blockchain hub.
According to market research firm Prophecy Market Insights, the real estate tokenization market is expected to grow from $3.8 billion in 2024 to $26 billion by 2034, highlighting the strong potential for this innovative investment approach.
Dubai’s launch of Prypco Mint marks a significant milestone for blockchain adoption in real estate. It also reinforces Dubai’s leadership in digital asset innovation in the MENA region. XRP’s price today as of 2.02 PM on May 27, 2025 is $2.31, down by 2.56%.The Dubai real estate project could also enhance XRP's long-term value by boosting its real-world utility.
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