Tether has announced a strategic partnership with the platform Reelly Tech, providing an opportunity to use the USDT stablecoin in the UAE real estate market. This collaboration aims to accelerate and secure transactions in the real estate sector.
Collaboration with Reelly Tech
As part of the agreement, Reelly Tech will propose to its clients the option to use USDT to purchase real estate from over 30,000 local and international agents connected to its platform.
Benefits and Prospects
This project will result in faster and more secure transactions by using a stable digital currency as a medium of exchange. The companies also plan to develop educational tools for users to explain the advantages of using stablecoins like USDT in real estate deals.
Relevance and Regional Aspects
The project launch is timely given the booming Dubai real estate market. Off-plan sales, covering 27% of the market, indicate growing interest in property investments. Tether recently received approval from UAE authorities for USDT to be recognized as a virtual asset.
The partnership between Tether and Reelly Tech in the UAE stands as an example of implementing innovative financial solutions in the real estate sector, potentially increasing cryptocurrency use in this segment.
