Connect with us

Crypto World

XRP Ledger Debuts Controlled Trading for Dubai Property Tokens, Ripple Says

Published

on

Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR

  • Ripple executive Reece Merrick confirmed the launch of controlled trading for tokenized properties on the XRP Ledger.
  • The Dubai Land Department joined the project to support real estate tokenization and on-chain title management.
  • Phase two of the project introduced regulated resale of fractional property tokens for broader market access.
  • The pilot phase previously tokenized ten properties with a value of over five million dollars.
  • About 7.8 million tokens created during the pilot are now eligible for resale under the new framework.

The project advanced further on Friday as new details emerged and expanded its scope and purpose, and the update introduced controlled trading for tokenized properties. The development created a clear path for broader asset access and drew attention to expanding token markets. The disclosure from senior leadership also showed how partners support the ongoing rollout phase.

Phase Two Expands Property Trading on the XRP Ledger

Ripple executive Reece Merrick confirmed the launch of controlled trading for tokenized properties. He shared the update on X and said the system now supports structured resale activity.

He explained that phase two follows a pilot that tested token issuance and supported early property onboarding. He added that trading now operates under a regulated setup.

The pilot introduced 10 properties worth over $5 million and created 7.8 million eligible tokens. The new phase now enables investors to resell those units.

Merrick said the expansion provides a pathway for wider access to tokenized assets. He noted that the market framework supports investor protections.

Advertisement

The update also shows how partners built the trading model for long-term use. It now connects infrastructure with land registry processes.

Dubai Entities Deepen Real Estate Tokenization With Ripple Custody

The Dubai Land Department joined the project to support asset tokenization and registry integration. The agency now links property data with the blockchain system.

The department works with Ctrl Alt to manage a tokenization engine that issues and transfers title deeds on-chain. This setup allows the market to track property changes.

Partners said the system records all transactions using Ripple Custody for secure verification. They also confirmed that asset movements remain visible to regulators.

Advertisement

The controlled market aims to test operational readiness under real trading conditions. It also helps partners evaluate governance tools.

The update reflects how agencies coordinate to align registry processes with blockchain tools. It supports consistent tracking across each property event.

Controlled Market Framework Drives Regulated Activity for Tokenized Assets

Project leaders said the controlled market creates a clear environment for resale activity. They emphasized that all trades follow set rules.

Merrick stated that investors can enter or exit positions under defined oversight. He said this structure keeps transactions orderly.

Advertisement

The partnership with Ctrl Alt improves how title data moves through the chain of records. It links each update to on-chain documentation.

Teams designed the system to support future expansion. They continue monitoring how participants use the trading functions.

The latest update confirms that phase two is now active with regulated resale features. It also shows that about 7.8 million tokens are ready for trading under the new framework.

Advertisement

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto World

Trump Fires Back After SCOTUS Ruling, Announces 10% Global Tariff

Published

on

US Government, United States, Donald Trump

The United States Supreme Court ruled on Friday that President Donald Trump could not use national emergency powers to levy tariffs during peacetime.

US President Donald Trump announced a 10% global tariff on Friday following the Supreme Court’s ruling striking down his authority to levy tariffs under the International Emergency Economic Powers Act (IEEPA).

Trump was critical of the Supreme Court’s decision, calling the decision “ridiculous” at Friday’s press conference, and said that he will levy the tariffs under different legal methods, including the Trade Expansion Act of 1962 and the Trade Act of 1974. Trump said:

Advertisement

“Effective immediately. All national security tariffs under Section 232 and Section 301 tariffs remain fully in place. And in full force and effect. Today, I will sign an order to impose a 10% Global tariff under Section 122 over and above our normal tariffs already being charged.”

US Government, United States, Donald Trump
US President Donald Trump announced a 10% global tariff and commented on Friday’s Supreme Court ruling. Source: The White House

Trump’s tariffs have repeatedly caused severe downturns in markets considered high risk, including crypto and equities, as the threat of tariffs fuels uncertainty and shakes investor confidence.

Related: Bitcoin ignores US Supreme Court Trump tariff strike amid talk of $150B refund

The Supreme Court strikes down Trump’s authority to levy tariffs under emergency powers

Trump levied a 25% tariff on most goods coming in from Canada and Mexico, and a 10% tariff on goods coming in from China under the IEEPA, framing both tariffs as a response to national security threats.

An influx of drugs from foreign countries created a “public health crisis,” according to Trump, while trade deficits with China threatened the industrial manufacturing base in the US, he alleged.

US Government, United States, Donald Trump
The Supreme Court ruling struck down Trump’s authority to levy tariffs under the IEEPA. Source: The US Supreme Court

However, the Supreme Court rejected both premises as national security threats under the IEEPA and said that the Executive Branch does not have the authority to levy tariffs under the IEEPA during peacetime. 

“In IEEPA’s half-century of existence, no president has invoked the statute to impose any tariffs, let alone tariffs of this magnitude and scope,” the ruling said.

Advertisement

“Article I, Section 8, of the Constitution specifies that ‘The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises.’ The Framers recognized the unique importance of this taxing power,” the Supreme Court ruled on Friday.

Magazine: Is China hoarding gold so yuan becomes global reserve instead of USD?