The Dubai government has launched a real estate tokenization platform Prypco Mint: deployed on the XRP Ledger, offering an annualized return of 8~12% for on-chain home purchases.

Dubai's Land Department (DLD) announced the official launch of its first real estate tokenization platform, Prypco Mint, on May 25, making Dubai the first city in the MENA region to adopt an authorized real estate tokenization platform. (Synopsis: Kraken enters the stock tokenization market, why are exchanges rushing to occupy this track? (Background supplement: JPMorgan Chase completed transactions on public chain for the "first time", cooperated with Ondo and Chainlink to settle tokenized assets, and accelerated the integration of DeFi) Dubai's Land Department (DLD) issued an announcement on May 25, announcing the official launch of its first real estate tokenization platform "Prypco Mint", making Dubai the first city in the Middle East and North Africa region to adopt an authorized real estate tokenization platform. The official government real estate tokenization platform Prypco Mint is the official platform of the DLD government department, Prypco Mint is developed by the Dubai Land Department in partnership with real estate fintech company Prypco, and the technical basis is provided by tokenization expert Ctrl Alt Solutions, using the XRP Ledger blockchain to record property ownership certificates. Partners also include the Virtual Assets Regulatory Authority (VARA), the Central Bank of the United Arab Emirates, and the Dubai Future Foundation (DFF) through its real estate sandbox, while Zand Digital Bank has been designated as a pilot banking partner to ensure a smooth transaction process, which shows that the platform does have official support. According to the current information on the official website (mint.prypco.com), the current way for investors to participate should be to buy tokenized shares of Dubai real estate in a pre-sale manner and receive a return on future sales (allowing the purchase of tokenized shares of Dubai ready-made properties for a minimum of 2,000 dirhams, about $540), and the official website says that the current annualized return is about 8~12%. However, the official note is also that the return on investment = return is a forecast value and does not represent any future, past or guaranteed performance, and interested investors need to assess the risk themselves. However, it should be noted that the platform is currently only available to investors who hold United Arab Emirates identity cards, and transactions are only available in dirhams (the currency of the United Arab Emirates), and there are not many real estate projects that can be bought. However, Dubai's land department also said that the platform will be expanded to global investors in the near future, and plans to integrate more platforms to further enhance its global reach. Dubai tokenized asset market size is expected to reach $16 billion in 2033 In fact, pre-sale or fundraising in the form of tokenization has been tried by many platforms before, but the project endorsed by the official government platform is the first time to see, and there are more guarantees in compliance and security. However, it should be noted that the platform does not currently accept cryptocurrency payments, and officials say that all transactions in the pilot phase will be conducted in United Arab Emirates dirhams, aiming to lower the barrier to entry and ensure the security of transactions. Investors can access comprehensive property information, including prices, risk factors, technical specifications and minimum investment requirements, ensuring transparency and facilitating informed investment decisions. DLD also predicts that tokenized assets will account for 7% of Dubai's real estate market by 2033, with a total value of AED 60 billion (approximately $16 billion). Related reports Kraken launches stock tokenization market "xStocks": can trade US stocks and ETFs 24 hours a day, deployed on the Solana chain BlackRock CEO investor letter full text: Bitcoin is eating away at the US dollar reserve status, tokenization will lead the capital revolution The world's first tokenized currency market ETF launched: HashKey Group and Bosera Fund join forces to promote the integration of traditional finance and blockchain (Dubai government launches real estate tokenization platform Prypco Mint: Deployed in XRP Ledger, shouting annualized 8~12% to achieve on-chain house purchase" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".