Dubai’s tokenized real estate platform is launched in collaboration with blockchain companies Prypco and Ctrl Alt.
Currently, the program is only made available to UAE citizens, but it is speculated to grow gradually and globally.
Dubai is launching the Middle East’s first tokenized real estate platform, Prypco Mint, and marking a new milestone in property investment.
The Gulf News reported on May 25 that this measure is being led by the Dubai Land Department and focuses on making property investment more accessible. The pilot platform permits the citizens of the United Arab Emirates to invest in real estate with as little as 2,000 Dirhams.
The tokenized real estate platform is launched in collaboration with blockchain companies Prypco and Ctrl Alt. It will also be backed by the Virtual Assets Regulatory Authority, the Central Bank of the UAE, and the Dubai Future Foundation. At the time of the trial phase, Zand Digital Bank will act as a banking partner.
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