#B Dubai Land Authority (DLD), a government agency in the real estate sector, has launched its first tokenized real estate platform as part of a government-backed effort that expects $16 billion worth of real estate to be digitized by 2033. The platform, called Prypco Mint, was developed in partnership with real estate fintech company Prypco and allows investors to buy fractional ownership of properties in Dubai using local currency, starting at AED 2,000, or about $540, as detailed in a press release issued by the agency on Sunday. In the initial phase, the platform only supported Dirham transactions and was only open to Emirates ID holders, but the agency said it plans to expand global access in the near future and integrate more platforms in the future. Zand Digital Bank acted as the banking partner, with regulatory oversight from the Central Bank of the UAE, the Dubai Virtual Assets Regulatory Authority (VARA) and the Dubai Future Foundation through its real estate sandbox. The technical backbone of the project is the infrastructure of the tokenization specialist Ctrl Alt, which has chosen the XRP Ledger blockchain to house real estate title certificates. The company says it has integrated directly with DLD's system to ensure that blockchain records are kept in sync with traditional government real estate ledgers. The project builds on Dubai's initiative to accelerate the tokenization of the city's booming real estate market, a red-hot crypto trend. The agency estimates that tokenized real estate could account for 7% of the city's total real estate transactions by 2033, or about $16 billion. Tokenization refers to the use of blockchain to move and record ownership of traditional financial instruments, such as bonds, funds, or real estate, which has attracted numerous global banks and asset managers, promising operational benefits and faster and cheaper settlements. This could be a huge opportunity: according to forecasts from Ripple, BCG, McKinsey, and others, tokenized assets could grow to a market size of trillions of dollars in the coming years. Read more: Ripple, the BCG project expects to reach a market #成长值抽奖，赢 iPhone 16 和精美周边 #比特币2025大会 #特朗普延迟加征欧盟关税 of $18.9 trillion in tokenized assets by 2033