Tether and Reelly Tech are integrating USDT into real estate transactions in the UAE. This partnership aims to enhance transaction efficiency and educate agents on stablecoin utilization.
Goals of Tether and Reelly Tech Partnership
Reelly Tech, connecting over 30,000 real estate agents across the UAE and international markets, partners with Tether to launch an educational program. This initiative will aid agents in understanding how stablecoins like USDT can be used in real estate purchases, ensuring secure and seamless transactions.
Growth of UAE Real Estate Market
In 2024, off-plan sales value in the UAE surged to 283 billion AED, a 27.5% increase from the previous year. The partnership aims to leverage this growth by promoting USDT as a viable financial tool for property buyers, developers, and agents.
Tether’s Role in Digital Asset Development
The UAE has emerged as a global leader in cryptocurrency adoption, ranking third behind Singapore and Hong Kong. Regulatory frameworks like Abu Dhabi Global Market and Dubai's Virtual Asset Regulatory Authority foster an environment favorable to digital asset firms. Tether's CEO Paolo Ardoino highlighted that the partnership aligns with their goals of promoting blockchain innovation and financial inclusion.
The partnership between Tether and Reelly Tech marks a significant step in utilizing stablecoins in real estate transactions in the UAE. This collaboration fosters financial innovation and supports sustainable market growth.
