Tether, the issuer of the world’s largest stablecoin, has signed a Memorandum of Understanding with Reelly Tech, a UAE-based real estate platform, to integrate USDT payments into the property sector. The partnership seeks to facilitate cryptocurrency transactions among over 30,000 local and international real estate agents on Reelly’s platform.
The initiative comes as Dubai’s real estate market experiences a surge in activity, with off-plan sales reaching 283 billion AED in 2024, a 27.5% increase from the previous year. By incorporating stablecoin payments, the companies aim to streamline transactions, improve efficiency, and enhance accessibility for international buyers.
Educational Program to Train Real Estate Agents
As part of the collaboration, Tether and Reelly Tech will launch an interactive educational series to guide agents on the practical use of USDT in real estate transactions. The program will focus on secure digital asset transfers and blockchain applications in property purchases.
Reelly Tech, a business-to-business platform, connects real estate agents with developers and provides AI-driven tools for market analysis and transaction management. The company reports that agents facilitate approximately 95% of all property transactions in the UAE, positioning the platform as a key link between buyers and developers.
UAE’s Expanding Role in Global Crypto Adoption
The UAE ranks among the world’s leading cryptocurrency hubs, following Singapore and Hong Kong in adoption, according to reports from Chainalysis and the Henley Index. The country’s regulatory framework, including oversight from Abu Dhabi’s Global Market and Dubai’s Virtual Asset Regulatory Authority, has attracted blockchain firms and digital asset investments, with the region’s crypto market valued at $338 billion.
Tether’s expansion into the UAE aligns with its broader efforts to promote blockchain adoption. The company recently secured approval for USDT as an Accepted Virtual Asset in Abu Dhabi’s financial district and partnered with Ras Al Khaimah’s RAK DAO to advance education on Bitcoin and stablecoins.
Industry Leaders Highlight Growth Potential
Paolo Ardoino, CEO of Tether, described the partnership as a step toward modernizing real estate transactions through blockchain. “The UAE’s progressive stance on technology and its leadership in digital assets adoption across the MENA region makes it an ideal hub for pioneering advancement, and we are honored to contribute to its vision for a forward-looking and prosperous digital economy," he said.
Reelly Tech CEO Vitaliy Ryzhak noted that the educational initiative is the first phase of a broader strategy to integrate USDT into real estate investment. Part of his statement read, “We aim to make international real estate investment safe, efficient, and easy. To do this, we plan to create tools to open up new opportunities for using USDT in real estate transactions.”
