Verify first.
Then tokenise.An asset tokenisation platform built on a verified record.
Tokenise is Property Vault's asset tokenisation capability. It represents a verified asset on the XRP Ledger - as a pointer token that follows the Vault ID, or as fractional ownership through a regulated issuer, of homes, land, classic cars, yachts, art and casks. Launching through regulated partners, subject to regulatory approvals.
A pointer that follows the record. An instrument only a regulated issuer can issue.
We keep them apart because the law does.
The Vault ID pointer
One mutable NFT per Vault (XLS-20 with DynamicNFT XLS-46): taxon = asset class, URI = a scope-gated manifest. It attests that a Vault exists and its sealed record has not changed. Nothing on the ledger identifies a property or a person.
- Identity and attestation - never title or ownership
- Documents, natural keys, scoring and personal data stay off-chain
- Follows the Vault ID through every transfer; the statutory register wins on any conflict
Fractional ownership tokens
Regulated instruments. An authorised issuer places the asset in an SPV or trust and issues interests in it as XRPL Multi-Purpose Tokens (XLS-33) - with protocol-level allow-list, lock and clawback (live on mainnet) - settled in RLUSD. Secondary trading of an MPT on the Permissioned DEX needs the MPT DEX amendment (XLS-82), which is not enabled; until it is, the instrument would be a trust-line token, or trading would wait. Property Vault issues none of them.
- Issued and gated by an FCA-authorised issuer or Digital Securities Sandbox participant
- Eligible only when the Vault meets a minimum Vault Score - a verification score - whether the documents exist, who issued them and that they are unaltered since issue; never a valuation, a credit input or a judgement of the work - and a clean statutory record
- The token-to-asset link is contractual, written in the vehicle's documents
Tokenised property failed when the record went stale.
A token is only as good as what is known about the asset behind it.
It needs a live record fed by the institutions that hold the facts - registers, schemes, insurers, valuers - sealed so nobody can rewrite it. That is the layer Property Vault builds: know your asset.
Tokenisation eligibility is a rule, not a sales call: a minimum Vault Score plus a clean statutory record.
RealT · voluntary liquidation
Unpaid taxes, blight and litigation across about 700 properties - the record went stale behind the tokens.
Source: realopen.com, Jul 2026.USDR · depeg to about $0.50
A real-estate-backed stablecoin lost its peg when redemptions ran ahead of property that could not be sold in time. Illiquidity, not the ledger.
Source: The Block, Oct 2023.How to tokenise an asset on the XRP Ledger: native primitives, no smart contracts.
The record stays off-ledger with Property Vault. The controls a regulated issuer needs are on-ledger, and native.
Off-ledger · Property Vault the record
On-ledger · XRPL the rails
| Primitive | Standard | Live on mainnet | What it does for Tokenise |
|---|---|---|---|
| Non-fungible tokens | XLS-20 | 31 Oct 2022 | The pointer token, one per Vault ID. |
| DynamicNFT | XLS-46 | 11 Jun 2025 | Pointer URI updates with the record. |
| Decentralised identifiers | XLS-40 | 30 Oct 2024 | Identity for Property Vault and each issuer. |
| Credentials | XLS-70 | 4 Sep 2025 | Issuer registration - not per-event history. |
| Multi-Purpose Tokens | XLS-33 | 1 Oct 2025 | The fractional instrument: allow-list, lock, clawback. |
| Permissioned Domains | XLS-80 | 4 Feb 2026 | Only credentialed holders inside the domain. |
| Permissioned DEX | XLS-81 | 18 Feb 2026 | Secondary trading inside the domain, run by the venue. XRP and trust-line tokens today; MPTs need XLS-82, not yet enabled. |
| MPT on the DEX | XLS-82 | Not enabled | Needed before an MPT can trade on the Permissioned DEX. |
| Clawback | Clawback | 8 Feb 2024 | Recovery for court orders, fraud or lost keys. |
| Token Escrow | XLS-85 | 12 Feb 2026 | Conditional deposits and completion payments. |
| RLUSD | Stablecoin | Live | The settlement asset; XRP is liquidity; XRPL is the rail. |
Dates from xrpl.org and the XRPL amendments dashboard, checked 8 Oct 2026. RLUSD availability to UK investors depends on the issuer's and venue's permissions.
In validator voting - when activated
Single Asset Vault (XLS-65), Lending Protocol (XLS-66) and ConfidentialTransfer are in validator voting, well short of the 80% threshold, with no activation date; nothing here depends on them. When activated, they carry Lending & Collateral on-ledger.
One dependency, one fallback
DomainID on an MPT issuance is documented as requiring Single Asset Vault. Until it activates, the issuer authorises holders one at a time with MPTokenAuthorize. Same result; more transactions.
The regulated issuer runs the offer. We run the record.
A clean split keeps every party inside its permissions.
Regulated issuer
Sets up the SPV or trust, hosts the offer under its own permissions, gates holders, issues the token and holds the clawback keys.
Regulated venue
Operates the Permissioned Domain and DEX, runs the order book, handles escrow and settles in RLUSD.
Property Vault
Supplies the Vault ID, Verified History, Vault Score and the eligibility rule through scoped reads of the Vault API, and keeps the pointer in step.
Tokenisation of physical assets: described, not offered.
How a regulated issuer could structure each class. No prices, no live offer.
Building
Title to the vehicle; interests as tokens. Statutory record, works history and valuation in the Vault.
Where the law allows, through a regulated issuer.
Development site
Planning and construction milestones recorded as verified events.
Where the law allows, through a regulated issuer.
Yacht
Units in the vehicle, on the terms set out in its documents. Hull number, survey and insurance in the Vault.
Where the law allows, through a regulated issuer.
Artwork
Provenance, condition and custody sealed in the Vault; fractions issued against them.
Where the law allows, through a regulated issuer.
Whisky cask
Distillery, cask number, fill date, ABV and warehouse - a natural key made for a sealed record.
Where the law allows, through a regulated issuer.
Classic car
VIN, restoration history, mileage and custody in the Vault; units in the vehicle.
Where the law allows, through a regulated issuer.
Twelve classes, one record. See the asset classes.
What the law actually says - and what it does not.
Four facts a diligence reader will check.
Property (Digital Assets etc) Act 2025
The Property (Digital Assets etc) Act 2025 (Royal Assent 2 Dec 2025) confirms that a digital token can be property in its own right - a third category of personal property. It does not link a token to a home, car or watch - that link is contractual.
Bank of England / FCA Digital Securities Sandbox
Live since 8 Jan 2024 and running to 2029; the Bank and the FCA were working with 16 firms in it in May 2026 (Bank of England, 18 May 2026); HSBC (13 Jul 2026) and ClearToken (18 Sep 2026) have passed Gate 2. CurveBlock, the first entrant focused on real-estate development fund tokenisation (Gate 1, May 2025), is Leeds-based.
MiCA
MiCA's crypto-asset service provider regime has applied across the EU since 30 Dec 2024, with transitional periods ending by 1 Jul 2026. It does not cover tokenised securities (MiFID) or unique NFTs.
Dubai Land Department on the XRP Ledger
The Dubai Land Department issues its own title-deed tokens on the XRP Ledger through a licensed platform (Phase 1, May 2025; secondary trading, 20 Feb 2026). It proves the ledger carries registry-grade tokens.
Where Tokenise is today.
In sequence: the record, the anchor, the pointer, then a regulated partner's instrument.
Homes live in pilot
Vault ID, Verified History, sealed documents and the Vault Score engine at propertyvault.world/homes.
Pointer token on testnet
After the data-protection impact assessment: one pointer per Vault ID, a DID, issuer Credentials.
Pointer token on mainnet
Every Vault ID referenced on the XRP Ledger.
First exemplar tokenised asset
With a named FCA-authorised issuer or Digital Securities Sandbox participant - Property Vault as the record and eligibility layer only.
Questions about the asset tokenisation platform.
What is an asset tokenisation platform, and is Property Vault one?
An asset tokenisation platform turns a real-world asset into a token on a ledger. Property Vault is the verification half of that: it gives the asset a Vault ID, a Verified History and a Vault Score, and supplies the eligibility data a regulated issuer needs before it tokenises. The issuer, not Property Vault, hosts the offer, gates holders and settles. Launching through regulated partners, subject to regulatory approvals.
Is my house on the blockchain?
No. A pointer token may reference your home's Vault - a manifest hash and the asset class, nothing that identifies the property or you. Legal title stays with HM Land Registry; on any conflict the statutory register wins.
Who holds legal title to a tokenised asset?
For a fractional structure, normally an SPV or trust set up by a regulated issuer; token holders hold an interest in that vehicle under its documents. The link is contractual. The token is never title.
Can I invest through Property Vault?
Not today, and never on this site. Any offer will be made by a regulated issuer or venue under its own permissions. Register interest and we will tell you when a regulated partner launches.
What does a token represent?
A pointer token represents the existence and integrity of a Vault - attestation, not ownership. A fractional token represents an interest in a legal vehicle that owns the asset, issued by a regulated issuer. Property Vault issues no token of its own.
Is Property Vault a regulated venue or exchange?
No. Property Vault is the identity, verification and eligibility layer. Regulated issuers and venues host offers, gate holders, run order books and settle. See Markets for the product as a whole.
Know your asset. Then tokenise it.
Launching through regulated partners, subject to regulatory approvals. This page describes a product in development. It is not an offer or a financial promotion.