Tether Partners with Reelly Tech to Introduce Stablecoin Transactions in UAE Real Estate
Tether Operations Limited, recognized as a major player in the digital asset industry, has entered into a strategic partnership with Reelly Tech, a leading B2B real estate platform in the UAE. The two companies have signed a Memorandum of Understanding (MoU), marking a significant step forward in real estate technology advancements.
This collaboration aims to enhance the efficiency of real estate transactions by integrating USDT (Tether’s stablecoin), allowing local and international agents on Reelly Tech’s platform to streamline processes and optimize operations.
As part of this initiative, Tether and Reelly Tech will co-develop an educational series hosted on Reelly Tech’s platform. The goal is to empower agents by providing them with the necessary knowledge and tools to confidently utilize stablecoins in property transactions. The program will cover various applications of USDT, including secure transfers for real estate purchases, helping agents navigate this emerging financial landscape.
Reelly Tech’s Role in the Real Estate Sector
Reelly Tech is a specialized B2B platform that connects real estate agents across the UAE and international markets. The platform provides in-depth analysis of over 1,450 real estate projects and integrates AI-driven tools that assist agents in creating branded presentations, saving valuable time.
For developers, Reelly Tech offers seamless communication with agents, reduces marketing expenses, and provides real-time insights into agent performance. Given that approximately 95% of real estate transactions in the UAE are facilitated by agents, this platform plays a crucial role in optimizing property sales and developer success.
This initiative is launched at a time when Dubai’s real estate market is experiencing unprecedented growth. In December 2024, the total value of off-plan sales for the year surged to AED 283 billion—an increase of 27.5% from AED 205 billion in 2023. By leveraging this growth, Tether and Reelly Tech aim to showcase how stablecoins can simplify property transactions for buyers while expediting commercial processes for developers and agents.
The UAE’s Leadership in Digital Assets
According to Chainalysis and the Henley Index 2024 report, the UAE ranks third globally in cryptocurrency adoption, following Singapore and Hong Kong. The country has positioned itself as a key hub for digital asset innovation, supported by progressive regulations such as the Abu Dhabi Global Market (ADGM) and Dubai’s Virtual Asset Regulatory Authority (VARA).
These regulatory frameworks have created an environment that attracts crypto firms, contributing to the region’s crypto market valuation of $338 billion. In 2023, the UAE recorded cryptocurrency transactions worth £34 billion, reflecting a 42% year-on-year growth—far exceeding the Middle East and North Africa (MENA) region’s average of 11.73%.
Further reinforcing its commitment to digital finance, the UAE has also embraced initiatives such as Tether’s plan to launch a stablecoin pegged to the UAE dirham, further integrating blockchain technology into its financial ecosystem.
Advancing Blockchain in Real Estate
The collaboration between Tether and Reelly Tech aligns with Tether’s broader mission of promoting blockchain innovation and education globally. Tether has recently expanded its presence in the Middle East, with USDT gaining recognition from the Financial Services Regulatory Authority (FSRA) as an Accepted Virtual Asset (AVA) in the Abu Dhabi Global Market (ADGM). Additionally, Tether has partnered with RAK DAO in Ras Al Khaimah to support educational programs focused on Bitcoin and stablecoins.
Paolo Ardoino, CEO of Tether, commented on the partnership, stating:
“This initiative underscores our commitment to fostering a robust digital economy by equipping individuals and businesses with the tools to thrive in a digital-first world. The UAE’s leadership in digital asset adoption makes it an ideal hub for blockchain innovation, and we are proud to contribute to its vision. By integrating stablecoins into real estate transactions, we aim to enhance efficiency, drive sustainable growth, and establish new industry standards.”
Vitaliy Ryzhak, CEO of Reelly Tech, added:
“The launch of this training program is just the beginning. With the UAE real estate market attracting significant global investment, our goal is to make international property transactions more secure, efficient, and accessible. By introducing tools for seamless USDT transactions in real estate, we aim to unlock new opportunities for investors and buyers alike.”
This collaboration marks a crucial step toward bridging blockchain technology with the traditional real estate sector. By leveraging stablecoins and innovative fintech solutions, Tether and Reelly Tech are laying the groundwork for a more transparent, efficient, and digitally integrated property market in the UAE and beyond.
