Tether and Reelly Tech Partner to Transform UAE Real Estate Transactions

In a latest development, Tether, the stablecoin giant, has signed a groundbreaking Memorandum of Understanding (MoU) with Reelly Tech, a top real estate B2B platform in the UAE. 

This partnership marks a big step forward in real estate technology, enabling over 30,000 local and international agents on Reelly Tech’s platform to leverage the power of USDT, improving processes and boosting efficiency in the region’s fast-growing market.

Educational Series on Stablecoins in Real Estate

As part of the partnership, Tether and Reelly Tech will create an interactive educational series to be promoted on Reelly Tech’s platform. This initiative helps agents explore how stablecoins can transform property transactions, and understand the various practical applications, such as USDT transfers for real estate purchases with confidence and security.

Paolo Ardoino, CEO of Tether, expressed excitement about partnering with Reelly Tech to drive blockchain innovation in the UAE’s real estate sector. “Together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region,” he noted. 

Notably, Reelly a B2B platform, plays a key role in the UAE real estate market, where agents handle about 95% of property transactions, helping developers capitalize every lead.

Dubai’s Thriving Real Estate Market

With Dubai’s real estate market booming, Tether and Reelly aim to simplify property purchases using stablecoins, enhancing efficiency for buyers, developers, and agents. The UAE ranks third in global cryptocurrency adoption as per the Henley Index 2024 report. 

The UAE’s strong regulatory framework, including the Abu Dhabi Global Market (ADGM) and Dubai’s Virtual Asset Regulatory Authority (VARA), has fostered a thriving crypto ecosystem. This has helped the region’s crypto market reach $338 billion, with £34 billion in transactions in 2023—42% growth year-on-year.

Besides, the UAE’s commitment to digital assets is further shown by Tether’s plan to launch a stablecoin pegged to the UAE dirham, meeting growing local demand.