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The Dubai Land Department has launched a property tokenization platform based on the XRP Ledger.
According to Gate News bot, as reported by CoinDesk, the Dubai Land Department, in collaboration with real estate fintech company Prypco and infrastructure provider Ctrl Alt, has officially launched the real estate tokenization platform Prypco Mint. This platform is based on XRP Ledger technology, enabling the tokenization of property ownership certificates.
The platform sets a minimum investment threshold of 2000 dirhams, and UAE residents can purchase partial ownership of Dubai real estate through the platform. Currently, the platform only supports local currency transactions and is open only to UAE residents, with plans to expand to the global market in the future.
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