Tether and Reelly Tech Expand Usage of USDT in UAE Real Estate Market

• Tether and Reelly Tech Drive USDT Usage in Real Estate
• Stablecoins facilitate real estate transactions in the UAE
• Cryptocurrencies gain ground in Dubai’s real estate market

Tether has entered into a Memorandum of Understanding (MoU) with Reelly Tech, a by leading B2B real estate platforms in the United Arab Emirates (UAE). The agreement will enable the integration of USDT into real estate transactions, facilitating the use of the stablecoin for over 30.000 local and international agents of Reelly Tech. The initiative aims to streamline processes, increase efficiency and drive cryptocurrency adoption in the real estate sector in the region.

As part of the partnership, Tether and Reelly Tech will launch an interactive educational series within the platform, aimed at industry players. The content will cover the use of stablecoins in real estate transactions, explaining how USDT can provide greater security and efficiency in real estate purchases. Paolo Ardoino, CEO of Tether, highlighted the importance of the collaboration for the market: “Together, we aim to simplify real estate transactions, drive sustainable growth and set new standards for innovation in the region.”

Reelly Tech is a key player in the UAE real estate sector, where agents facilitate approximately 95% of property transactions. The platform offers not only property listings, but also AI tools to create personalized presentations, as well as training and detailed analysis of over 1.450 projects.

Dubai’s real estate market has seen significant growth, with off-plan property sales expected to reach AED283 billion in 2024, up 27,5% from the previous year. The use of stablecoins in this context can simplify payments, reduce costs and provide more liquidity for international investors and buyers.

The United Arab Emirates ranks third globally for cryptocurrency adoption, according to the Henley Index 2024. The country has a regulatory framework that has been supportive of the sector, including bodies such as the Abu Dhabi Global Market (ADGM) and Dubai’s Virtual Asset Regulatory Authority (VARA). This supportive environment has boosted the region’s crypto market, which generated $338 billion in 2023, with £34 billion in transactions – a 42% year-on-year growth.

The partnership with Reelly Tech is part of Tether’s strategy to expand its presence in the Middle East. The company recently announced plans to launch a UAE dirham-backed stablecoin, seeking to meet the region’s growing demand for blockchain-based financial solutions.

The integration of USDT into the UAE real estate sector represents a significant step forward for the market, bringing greater flexibility and transparency to transactions. The initiative reinforces the sector’s digitalization trend and further cements the country as a global hub for cryptocurrency-based financial innovations.