XRP Blockchain To Power Fractional Ownership In Dubai Properties Starting At $545
The Dubai Land Department launched an XRP Ledger (CRYPTO: XRP)-based tokenized real estate platform on Sunday as part of a government-backed initiative to digitize real estate in the Emirati city.
What Happened: The government-run entity collaborated with real estate fintech firm Prypco to create the “Prypco Mint” platform, according to a press release. The project will allow investors to acquire fractional ownership in Dubai properties using local currency, starting at AED 2,000 (approximately $545).
At present, the platform only facilitates dirham transactions and is exclusively available to United Arab Emirates ID cardholders. However, the Dubai Land Department intends to broaden access globally and incorporate more platforms in the future.
Ctrl Alt Solutions, a tokenization …
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