Ripple has expanded its institutional custody services to the Middle East, associating with the tokenization platform based in the EAU Ctrl Alt to support the realization digitalization initiative directed by the Government of Dubai.
The agreement, announced on Tuesday, will see CTRL Alt uses the Ripple custody infrastructure to store the titenized actions owned by the property issued by the Dubai land department (DLD) in the Book Mayor XRP (XRPL).
Ripple technology will support safe storage and life cycle management of fractional real estate titles, which forms a key component of the end -to -end infrastructure of CTRL ALT for asset token.
CTRL ALT recently became the first Vasp in Dubai authorized to offer services related to the issuer under the regulatory authority of virtual assets (rod), linking the emission of Token directly to custody in the chain.
The measure is produced in the middle of a growing impulse for cryptocurrencies in Dubai. The Dubai Financial Services Authority (DFSA) awarded a license earlier this year and since then has launched associations with Zand Bank and Mamo, and obtained the approval of its RLUSD Stablecoin within the International Financial Center (DIFC) of Dubai.
