The Dubai Land Department (DLD), a government agency for the real estate industry, has launched its first tokenized real estate platform as part of a government-backed effort that could see $16 billion worth of real estate digitized by 2033.The platform, called Prypco Mint and developed in partnership with real estate fintech firm Prypco, allows investors to purchase fractional ownership in Dubai properties using local currency starting at 2,000 dirhams, or about $540, according to a Sunday press release by the agency.In the initial phase, the platform only supports dirham transactions and is available to United Arab Emirates ID cardholders, but the agency said it plans to expand access globally in the near future and integrate more platforms later. Zand Digital Bank is serving as the banking partner, while regulatory oversight comes from the UAE Central Bank, Dubai’s Virtual Assets Regulatory Authority (VARA) and the Dubai Future Foundation through its Real Estate Sandbox
source: https://www.coindesk.com/business/2025/05/26/dubai-unveils-real-estate-tokenization-platform-on-xrp-ledger-amid-usd16b-initiative