Ripple is expanding its influence in real-world asset tokenization after Dubai activated secondary trading for tokenized real estate. The move allows regulated resale of millions of property-backed tokens on the XRP Ledger (XRPL), integrating blockchain more deeply into Dubai’s official land registry systems.
Reece Merrick, Reece Merrick, shared the news on social platform X on Feb. 20, highlighting the launch of Phase Two. This phase enables controlled secondary market trading of properties secured by Ripple Custody, in partnership with Ctrl Alt.
The initiative builds on a pilot that tokenized 10 properties worth over $5 million. Approximately 7.8 million tokens from this phase are now eligible for resale through a regulated distribution platform. This ensures alignment with official land records while improving transparency, governance, and investor protections.
Ctrl Alt, the first firm licensed by Dubai’s Virtual Assets Regulatory Authority to issue Asset-Referenced Virtual Asset management tokens, manages the on-chain ownership records. The firm says the system allows ownership and management tokens to operate simultaneously, without requiring platforms to build their own tokenization engines.
“Phase Two is a massive step for real-world asset adoption in Dubai,” Merrick said. The framework reinforces Dubai’s push to integrate blockchain into its property markets while providing a model for government-backed digital infrastructure, according to Ctrl Alt CEO Robert Farquhar.
The XRP Ledger has already supported significant asset tokenization projects in the Gulf, including over $280 million in certified diamonds, further cementing Ripple’s role in regional blockchain infrastructure.
As of February 2026, Ctrl Alt reports more than $850 million in tokenized assets across real estate, private credit, funds, and commodities. The launch of Phase Two marks a critical moment in making tokenized real estate a mainstream, regulated market in Dubai.
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