Latest news with #RealEstateTokenization
Business Recorder
31-07-2025
- Business
- Business Recorder
Digital economy & virtual assets: Pakistan takes a giant leap
KARACHI: Pakistan took a significant step forward in its digital transformation journey, as leaders from government, finance, and technology came together at the National Incubation Center (NIC) Karachi for a high-profile event focused on the future of digital economy and virtual assets. The event, jointly organized by REIT Academy Pakistan, IRADAM, and Blockanica Technologies, featured keynote addresses, panel discussions, and stakeholder engagement on blockchain innovation, asset tokenization, and the regulatory roadmap for digital finance in Pakistan. Delivering the headline address, Khurram Schehzad, Advisor to the Minister for Finance & Revenue, outlined the government's vision and decisive steps toward a regulated, innovation-ready digital finance framework. He credited Finance Minister Senator Muhammad Aurangzeb for spearheading reform by establishing the Pakistan Crypto Council (PCC) and championing the recently enacted PVARA Ordinance 2025, which formalizes the virtual assets regime in Pakistan. 'We're not just experimenting with crypto-we are building the foundations of a secure, Shariah-aligned, and forward-looking digital economy and virtual assets ecosystem,' Schehzad said. 'This includes clear regulations, robust compliance, and greater financial inclusion.' He emphasized coordination across key regulators including the Ministry of Finance, State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Ministry of IT, and Ministry of Law, noting that Pakistan is aligning its policies with AML/FATF guidelines while building trust through institutions like SBP and SECP. He also highlighted the government's broader economic strategy, which includes privatization of major SOEs including PIA, ZTBL, and DISCOs during FY26, pensions and rightsizing of Federal Government, energy and tax reforms with digitization and public finance optimization and climate adoptions. In the meanwhile, Pakistan's pioneering Real Estate Tokenization (RET) Management and Issuer Company has announced successfully completion of its blockchain-based Distributed Ledger Technology (DLT) testing under the SECP Regulatory Sandbox. Reinforcing Pakistan's commitment to innovation and education in this domain, Khurram Schehzad also formally inaugurated the Real-World Asset (RWA) Tokenization Academy, launched in partnership with NIC Karachi, IBA CEIF, Barsols Legal Chamber, and Blockanica Technologies. The Academy aims to build local expertise and foster innovation in this emerging field. The event featured thought leaders including Nasim Beg (Arif Habib Consultancy), Ali Farid Khawaja (CeDAR), Humza Khan (Binance), Ayaz Uqaili (Sindh IT), and Azfar Hussain (Director, NIC Karachi), who hosted the event and underscored NIC's role in enabling frontier technologies and digital entrepreneurship. These leaders emphasized Pakistan's large crypto-ready user base, job creation potential, and the urgency of investor protections. Panelists discussed the evolving legal framework under PVARA, the launch of the Digital Nation Act, and the mechanics of blockchain-based real estate tokenization, led by representatives from DigiEstate and NextchainX. The event concluded with optimism as Khurram Schehzad reiterated Pakistan's commitment to a globally competitive, locally relevant digital finance system: 'Pakistan has the adaptability, the user base, and the investor interest. What we're building now is the governance, trust, and infrastructure to match it.' Copyright Business Recorder, 2025
Khaleej Times
17-07-2025
- Business
- Khaleej Times
Ripple expands global custody footprint into Middle East with Ctrl Alt pact
Ripple, a leading provider of digital asset infrastructure for financial institutions, has announced a strategic partnership with Ctrl Alt, a leading tokenisation infrastructure platform. The partnership sees Ctrl Alt using Ripple's digital asset custody technology to support the Dubai Land Department's (DLD) pioneering Real Estate Tokenization Project by delivering scalable and secure storage for Dubai's tokenized real estate title deeds, which are being issued on the XRP Ledger (XRPL). Ctrl Alt, which announced its involvement in the DLD project last month, becomes Ripple's first major custody partner in the UAE, underscoring the growing demand for secure, compliant digital asset infrastructure in the region. Ripple's expanding global custody network now includes clients across Europe, the Middle East and Africa, Asia-Pacific and Latin America. 'The Dubai Land Department's Real Estate Tokenization Project is a perfect example of the type of forward-thinking, innovative initiative that is positioning Dubai at the heart of the global digital asset industry,' said Reece Merrick, Managing Director, Middle East and Africa, at Ripple. 'This is the first time a government real estate registration authority in the Middle East has tokenized property title deeds on a public blockchain. That the DLD has chosen the XRPL for this is really exciting and reinforces the XRPL's credentials as the blockchain of choice for serious financial use cases. We're delighted that Ctrl Alt has chosen our institutional-grade digital asset custody technology to support the delivery of this project.' Ctrl Alt recently secured its VASP license from VARA, becoming the first VASP authorized to conduct Issuer-related services. This regulatory milestone formally connects token issuance with custody of real-world assets, enabling a compliant tokenization process, from asset issuance to secure custody, on-chain settlement, and lifecycle management. 'As the tokenization infrastructure provider for the DLD Project, Ctrl Alt brings deep expertise in financial engineering and digital asset infrastructure, so it makes sense for us to partner with Ripple to use their custody technology to support this initiative,' said Matt Ong, CEO and Founder, Ctrl Alt. 'Partnering with Ripple allows us to leverage proven and trusted technology that meets the highest security and operational standards. We're excited to work with them and bring Dubai real estate investment opportunities to a wider audience.' The DLD Real Estate Tokenization Project represents a significant milestone for asset tokenization and property investment in Dubai. With this move, Dubai is leading the charge toward a more accessible, transparent and efficient real estate market, broadening investor participation and enhancing operational efficiency. Through the tokenization of title deeds, it also enables fractional ownership of real estate, allowing multiple investors to co-own a single property. Ripple has experienced significant positive momentum in the UAE since becoming the first blockchain-enabled payments provider to be licensed by the Dubai Financial Services Authority (DFSA) earlier this year. In addition to establishing partnerships with Zand Bank, which is also partnering with the DLD project, and Mamo who will utilize Ripple's blockchain-enabled cross-border payments solution, Ripple's stablecoin RLUSD was recently approved as a recognised crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC).
Zawya
16-07-2025
- Business
- Zawya
Ripple expands global custody footprint into Middle East with Ctrl Alt
Dubai, UAE — Ripple, the leading provider of digital asset infrastructure for financial institutions, has today announced a strategic partnership with Ctrl Alt, a leading tokenization infrastructure platform. The partnership sees Ctrl Alt using Ripple's institutional-grade digital asset custody technology to support the Dubai Land Department's (DLD) pioneering Real Estate Tokenization Project by delivering scalable and secure storage for Dubai's tokenized real estate title deeds, which are being issued on the XRP Ledger (XRPL). Ctrl Alt, which announced its involvement in the DLD project last month, becomes Ripple's first major custody partner in the UAE, underscoring the growing demand for secure, compliant digital asset infrastructure in the region. Ripple's expanding global custody network now includes clients across Europe, the Middle East and Africa, Asia-Pacific and Latin America. 'The Dubai Land Department's Real Estate Tokenization Project is a perfect example of the type of forward-thinking, innovative initiative that is positioning Dubai at the heart of the global digital asset industry,' said Reece Merrick, Managing Director, Middle East and Africa, at Ripple. 'This is the first time a government real estate registration authority in the Middle East has tokenized property title deeds on a public blockchain. That the DLD has chosen the XRPL for this is really exciting and reinforces the XRPL's credentials as the blockchain of choice for serious financial use cases. We're delighted that Ctrl Alt has chosen our institutional-grade digital asset custody technology to support the delivery of this project.' Ctrl Alt recently secured its VASP license from VARA, becoming the first VASP authorized to conduct Issuer-related services. This regulatory milestone formally connects token issuance with custody of real-world assets, enabling a compliant tokenization process, from asset issuance to secure custody, on-chain settlement, and lifecycle management. 'As the tokenization infrastructure provider for the DLD Project, Ctrl Alt brings deep expertise in financial engineering and digital asset infrastructure, so it makes sense for us to partner with Ripple to use their custody technology to support this initiative,' said Matt Ong, CEO and Founder, Ctrl Alt. 'Partnering with Ripple allows us to leverage proven and trusted technology that meets the highest security and operational standards. We're excited to work with them and bring Dubai real estate investment opportunities to a wider audience.' The DLD Real Estate Tokenization Project represents a significant milestone for asset tokenization and property investment in Dubai. With this move, Dubai is leading the charge toward a more accessible, transparent and efficient real estate market, broadening investor participation and enhancing operational efficiency. Through the tokenization of title deeds, it also enables fractional ownership of real estate, allowing multiple investors to co-own a single property. Ripple has experienced significant positive momentum in the UAE since becoming the first blockchain-enabled payments provider to be licensed by the Dubai Financial Services Authority (DFSA) earlier this year. In addition to establishing partnerships with Zand Bank, which is also partnering with the DLD project, and Mamo who will utilize Ripple's blockchain-enabled cross-border payments solution, Ripple's stablecoin RLUSD was recently approved as a recognised crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC). Due to its simple, secure, compliant digital asset infrastructure, Ripple is well-positioned to provide the core services that financial institutions need to store, exchange and move digital assets. Ripple has over a decade of experience in the digital asset space and holds 60+ regulatory licenses and registrations in various jurisdictions, including its DFSA license, which was granted in March 2025. About Ripple Ripple is the leading provider of digital asset infrastructure for financial institutions—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple's solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record working with regulators and policymakers around the world, Ripple's payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world tokenizes, stores, exchanges, and moves value. About Ctrl Alt Ctrl Alt is a leading tokenization infrastructure platform, combining blockchain technology with expert financial engineering to deliver tailored, compliant solutions in the alternative assets space. As of July 1, 2025, Ctrl Alt has tokenized over $325 million in assets, spanning real estate, private credit, funds, litigation finance and more. For further information, visit or contact info@ Ctrl Alt Solutions DMCC is licensed by the Dubai Virtual Assets Regulatory Authority (reference: VL/25/05/002) as a Broker-Dealer and as an Issuer. Our principal office is located at Level No 12, Uptown Tower, Dubai. Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. Investors in Virtual Assets can lose all their money and do not benefit from any form of financial protection. Media Contacts Ripple - Ian Burge press@ Ctrl Alt - Lawrence Chiu press@
Zawya
04-06-2025
- Business
- Zawya
Ctrl Alt secures VARA license, becomes first VASP authorized to conduct issuer services in Dubai
Dubai, UAE - Ctrl Alt, a leading tokenization infrastructure platform, has officially secured its license from Dubai's Virtual Assets Regulatory Authority (VARA) to operate as a Virtual Assets Service Provider (VASP). Notably, Ctrl Alt is the first VASP authorized to conduct issuer-related services. This milestone marks a significant step in Ctrl Alt's global expansion and highlights its commitment to operating within robust regulatory frameworks. Ctrl Alt has been granted a VARA license that allows the company to conduct licensed activities that include Broker-Dealer services and Issuer services. This is the first time VARA has granted a license that permits Issuer services, a monumental achievement for Ctrl Alt. This license allows Ctrl Alt to operate a full-stack, regulatory-compliant platform for the creation, management and distribution of tokenized real-world assets and ARVA tokens. This was most recently demonstrated through Ctrl Alt's partnership with the Dubai Land Department on their Real Estate Tokenization Project, where Ctrl Alt created the framework to mint and place real estate tokens on-chain. Dubai has rapidly emerged as a global hub for innovation and digital assets and is often seen as a global leader in tokenization. Driven by a progressive approach to regulation and a forward-looking strategic vision, the Emirate has cemented its position as a global hub for digital and financial innovation. Since its inception in 2022, VARA has played a pivotal role in contributing to the growth of Dubai's digital economy and was a key factor in Ctrl Alt's decision to establish itself in the region back in 2024. 'We are proud to receive our VARA license and establish fully regulated operations in the UAE,' said Matt Ong, Founder and CEO at Ctrl Alt. 'This achievement reflects our commitment to long-term regulatory alignment as we power the infrastructure for the next generation of financial products.' 'Securing our VARA license marks a pivotal moment not just for Ctrl Alt, but for the broader digital asset ecosystem in the region,' said Robert Farquhar, Head of MENA at Ctrl Alt. 'Dubai's progressive regulatory environment provides a strong foundation for innovation in tokenization and we're proud to contribute to that vision by delivering secure, compliant tokenization infrastructure for real-world asset issuance.' With this approval, Ctrl Alt becomes part of a growing ecosystem of licensed VASPs in one of the world's most forward-thinking regulatory environments for Web3 and digital asset innovation. About Ctrl Alt Ctrl Alt is a leading tokenization infrastructure platform, combining blockchain technology with expert financial engineering to deliver tailored, compliant solutions in the alternative assets space. As of May 1, 2025, Ctrl Alt has tokenized over $295 million in assets, spanning real estate, private credit, funds, litigation finance and more. With offices in the UAE, the UK and Ireland, the Ctrl Alt team is composed of top-tier financial and technology experts including alumni from Morgan Stanley, Credit Suisse, UBS and Revolut. For further information, visit or contact info@ Ctrl Alt Solutions DMCC is licensed by the Dubai Virtual Assets Regulatory Authority (reference: VL/25/05/002) as a Broker-Dealer and as an Issuer. Our principal office is located at Level No 12, Uptown Tower, Dubai. Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. Investors in Virtual Assets can lose all their money and do not benefit from any form of financial protection.
Hi Dubai
30-05-2025
- Business
- Hi Dubai
Dubai Land Department Launches World's First Property Token Ownership Certificate
Dubai has cemented its status as a global pioneer in real estate innovation with the launch of the world's first Property Token Ownership Certificate, following the successful debut of a tokenized real estate project on the Prypco Mint platform. Licensed by the Virtual Assets Regulatory Authority (VARA), Prypco Mint saw its inaugural property token offering sell out within just one day. The launch drew 224 investors, 70% of whom were first-time entrants to Dubai's real estate market, reflecting strong interest in low-barrier, digitally driven ownership models. Investors hailed from 44 nationalities, with the average investment amounting to AED10,714. The initiative is part of the Dubai Land Department's Real Estate Tokenization project, developed in collaboration with VARA, the Central Bank of the UAE, and Dubai Future Foundation under the Real Estate Sandbox framework. It aims to make property investment more accessible, transparent, and efficient, in line with the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33. The response has been overwhelming, with a waitlist now exceeding 6,000 potential investors, underlining the growing global appetite for digital property assets. The department is also working to onboard real estate developers onto the platform, expanding the scope of tokenized investment opportunities. This move not only diversifies Dubai's investor base but also signals a shift toward a more inclusive, tech-enabled real estate market. News Source: Emirates News Agency
