PANews reported on July 16 that according to CoinDesk, Ripple has reached a cooperation with the UAE company Ctrl Alt to use XRP Ledger to provide tokenization services for Dubai real estate. Ctrl Alt will use Ripple's hosting infrastructure to store tokenized property deeds issued by the Dubai Land Department on XRPL. This cooperation aims to support the real estate digitization plan led by the Dubai government.

Ctrl Alt is the first virtual asset service provider in Dubai to obtain VARA authorization to provide issuance-related services. Ripple has obtained a license from the Dubai Financial Services Authority this year and has launched a number of collaborations with local financial institutions.