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USDT expands in UAE real estate via Reelly Tech partnership

USDT expands in UAE real estate via Reelly Tech partnership

Grafa2025/02/07 19:40
By: Mahathir Bayena
AIOLD0.00%

Tether (CRYPTO:USDT), the issuer of USDT, has partnered with UAE-based Reelly Tech to integrate its stablecoin into the Emirates' real estate market.

This collaboration will enable over 30,000 local and international real estate agents on Reelly Tech's platform to facilitate property transactions using USDT.

The partnership aims to streamline property transactions using Tether’s USDT stablecoin.

The initiative will also feature an interactive educational series on Reelly Tech’s platform, designed to educate real estate agents on the benefits and practical applications of using stablecoins like USDT in property transactions.

"By leveraging this momentum, Tether and Reelly aim to showcase and educate on innovative financial solutions that use stablecoins to simplify property purchases for buyers and accelerate commercial processes for developers and agents," as stated in their joint announcement.

Reelly Tech, established in 2020, operates as a B2B platform connecting real estate developers with thousands of agents in the UAE and international markets.

The platform offers project analysis and AI solutions.

Reelly Tech plays a key role in the UAE's property market, where agents facilitate approximately 95% of all transactions.

This collaboration is a tactical move for Tether to increase its presence in the Middle East.

The Abu Dhabi Global Market (ADGM) recognised USDT as a virtual asset in December 2024.

"The UAE’s progressive stance on technology and its leadership in digital assets adoption across the MENA region makes it an ideal hub for pioneering advancement," Tether CEO Paolo Ardoino stated.  

The partnership comes as USDT faces regulatory challenges in the European Union, with some crypto exchanges delisting it to comply with the EU’s Markets in Crypto-Assets (MiCA) framework.

At the time of reporting, the Tether (USDT) price was $1.00.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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