Dubai Land Department's tokenised property push gains payments partner
Government pilot leans on private payment rails as oversight questions grow
Checkout.com’s expanded arrangement with PRYPCO, a Dubai-based real estate investment and ownership platform, now covers payment processing for PRYPCO Mint, the platform through which the Dubai Land Department has been running its tokenised property initiative. The development arrives through a commercial partnership rather than a regulatory ruling, but it lands squarely at the intersection of private payment infrastructure and a government-run pilot programme.
That institutional context matters for how the arrangement should be read. PRYPCO Mint has been at the centre of Dubai’s tokenisation programme since May 2025, when the Dubai Land Department launched a pilot for tokenised property on the platform. A secondary market for tokenised property on PRYPCO Mint went live on 20 February 2026, meaning the government department’s pilot now depends in part on private payment rails to function at scale.
The commercial foundations of that dependency were laid earlier. PRYPCO first went live with Checkout.com in July 2026, and since then it has recorded a 20% increase in payment acceptance rates, which reduces revenue lost to declined payments. The partnership has now been broadened to include processing for the tokenisation platform.
Under the arrangement, PRYPCO has integrated Checkout.com’s acquiring and processing technology into PRYPCO Blocks, its fractional property investment platform. The integration is designed to support higher transaction volumes, including during peaks in demand around new property launches, and gives PRYPCO lower processing rates. Checkout.com’s network tokenisation replaces card details with unique digital identifiers, protecting customer data and helping to reduce false declines. PRYPCO also uses Checkout.com’s global payouts capabilities, allowing customers to fund and withdraw from their accounts with near-instant access.
The scale of the platform places it among the larger players in the UAE property market. PRYPCO offers fractional property investment, blockchain tokenisation, digital mortgages, gold investing, Golden Visa, and will services through a single platform covering the UAE real estate market. It has facilitated real estate transactions worth more than AED 20 billion (USD 5.4 billion) for over 110,000 customers.
The companies framed the deepened partnership in operational terms. Remo Giovanni Abbondandolo, General Manager for MENA at Checkout.com, said PRYPCO’s approach to a digital-first property journey matches the company’s focus on digital payments, and that it plans to work with partners across sectors to develop digital payments in the region. Essa Ibrahim, Co-founder and President of PRYPCO, said the partnership helps the company handle demand peaks when new properties launch, and that the improvement in acceptance rates shows why payment infrastructure matters for making property investment more accessible.
What the arrangement illustrates, in governance terms, is how a state-initiated pilot comes to rest on privately operated infrastructure. The Dubai Land Department set the regulatory frame with its tokenisation pilot in May 2025, and the secondary market that followed in February 2026 created a need for payment processing capable of handling high-value transactions reliably. As the UAE’s digital economy and property sector expand, high-value digital transactions of this kind require payment infrastructure that balances speed and security, a requirement that falls to the platform operators and their payment partners to meet within the boundaries the department’s programme establishes.
For regulators and oversight bodies tracking Dubai’s tokenisation experiment, the growth of the private side of the stack raises a familiar question: how much of a government programme’s day-to-day functioning is delegated to commercial providers? The 20% improvement in acceptance rates is a commercial metric, but the underlying processing capacity now sits behind a market created by a public authority. As the secondary market matures, the division between public mandate and private operation remains a live one.
Q&A
When did the Dubai Land Department launch its tokenised property pilot?
The Dubai Land Department launched a pilot for tokenised property on PRYPCO Mint in May 2025, with a secondary market following on 20 February 2026.
What commercial results has PRYPCO reported from its Checkout.com partnership?
A 20% increase in payment acceptance rates since first going live with Checkout.com in July 2026, reducing revenue lost to declined payments.
Which Checkout.com capabilities does PRYPCO now use?
Checkout.com's acquiring and processing technology, network tokenisation to replace card details, and global payouts for near-instant funding and withdrawals.
Why does the arrangement matter for regulators and oversight bodies?
They track how much of a public programme's day-to-day functioning rests on commercial infrastructure, given the processing capacity now sits behind a market created by a public authority.