XRP Achieves Milestone with $16 Billion Dubai Real Estate Tokenization Project
XRP has reached a significant milestone with the Dubai Land Department's announcement of a $16 billion real estate tokenization project on the XRP Ledger. This initiative may influence the price of XRP positively.
XRP and Dubai Land Department Project
Key points from the partnership announcement include:
- Ctrl Alt will collaborate with the Dubai Land Department to create a tokenization framework for real estate deeds.
- The XRP Ledger is selected for this project, highlighting its reliability in asset tokenization.
- The Dubai Land Department estimates a $16 billion market for tokenized real estate by 2033, accounting for 7% of all property transactions on the XRP Ledger.
- John Deaton emphasized that the XRP Ledger has the world's first decentralized exchange designed for real-world asset tokenization.
- Analysts predict this development could be a catalyst for XRP to reach $12, marking a new all-time high.
Recent Achievements for XRP
- Brazil's Braza Group plans to launch a USD-backed stablecoin, USDB, on the XRP Ledger.
- Schuman Financial's EURØP became the first MiCA-compliant euro stablecoin on the XRP Ledger.
- Ripple announced upcoming features for the XRP Ledger, enhancing its functionality in on-chain finance.
Currently, the XRP price is approximately $2.30, reflecting an increase in the last 24 hours.
