Ripple critics accused XRP of simply using it as a fundraising tool, and accusing it of providing almost realistic utility in return while abandoning the tokens to enrich itself.
But the major new developments from Dubai have turned that story into a head. The Dubai Land Division (DLD) has officially made its official name in collaboration with tokenization platform Ctrl Alt. Release A government-supported real estate tokenization initiative for XRP ledgers (XRPL).
This marks the first historic thing in the Middle East. There, companies use public blockchains to tokenize property title certificates. The project will allow partial ownership of real estate in full compliance with local law through direct integration with Dubai's traditional real estate registration system.
Prypco Mint, the platform behind the initiative, is already live. The entry point is as low as AED 2,000 ($545) and makes real estate investments much more accessible.
According to the announcement, the initiative will drive a $16 billion market by 2033, accounting for around 7% of Dubai's total real estate transaction volume.
Given the importance of this latest XRPL integration, this move has sparked a wave of response within the XRP community.
“Ripple just throws away the XRP”? Analysts fight back
XRP Community Analyst@cryptoinsightuk I responded In the news, reminding investors that it is the only crypto company in the United Arab Emirates with a full crypto payment license.
In particular, the company achieved this milestone in March of this year. Following the recent meeting Ripple, a leading leader in the United Arab Emirates, is currently aiming to build on this momentum.
Commenting on the development, Cryptoinsightuk highlighted the occurrence of land tokenization in XRPL in one of the fastest growing economies in the world.
He stressed that Dubai's XRPL integration is a clear evidence of the real-world utility of XRP ledgers and contradicts the idea that it does not serve meaningful purposes.
Government and Vala-backed tokenized real estate
In particular, the project is under Dubai's Real Evolutionary Space Initiative (REES) and is in line with Dubai's Economic Agenda (D33) and Real Estate Sector Strategy 2033.
Ctrl Alt worked closely with DLD to ensure seamless coordination between the blockchain and traditional registries. Interestingly, the official release stated that XRPL has been chosen for its long-standing reliability, low fees and distributed infrastructure.
According to Matt Ong, CEO of Ctrl Alt, the initiative will launch real estate investments to a larger audience. It provides the next generation of financial infrastructure while maintaining regulatory compliance.
Ripple's Growing Global Footprint
Already Ripple I have a full payment license in the UAEIt has become one of the few crypto companies in the region with this level of regulatory clarity. This demonstrates the mainstream adoption and increased confidence in the underlying technology of XRP, in addition to the choice of XRPL for government-level projects.
Interestingly, there is even the World Economic Forum. Recognised XRPL and Ripple in this respect. In its latest report on asset tokenization, WEF highlighted XRPL as the world's first foundation for $1 billion tokenized private equity and debt funds.
The fund leverages XRPL's decentralized infrastructure to digitize traditional non-liquid assets, increasing investor access, liquidity and transparency.
Citing speed, security and low cost, Ripple CTO David Schwartz praised XRPL's role in transforming private equity. Aurum CEO Venkat Bussa called it a major step forward in real-world asset tokenization.
