UAE real estate embraces stablecoins as Tether, Reelly Tech educate agents
Tether and Reelly Tech are teaming up to integrate USDT into real estate transactions in the UAE.
The partnership aims to improve efficiency in real estate deals while educating agents on the practical applications of stablecoins.
Reelly Tech, which connects over 30,000 real estate agents across the UAE and international markets, will collaborate with Tether (USDT) to launch an interactive educational series.
This initiative will help agents understand how stablecoins like USDT can be used in real estate purchases, ensuring secure and seamless transactions.
The collaboration comes as the UAE’s real estate sector experiences record growth. In 2024, off-plan sales value surged to 283 billion AED, a 27.5% increase from the previous year. The partnership aims to capitalize on this momentum, positioning USDT as a viable financial tool for property buyers, developers, and agents.
The UAE has emerged as a global leader in cryptocurrency adoption, ranking third behind Singapore and Hong Kong, according to Chainalysis and the Henley Index 2024 report.
The country’s regulatory frameworks, including the Abu Dhabi Global Market and Dubai’s Virtual Asset Regulatory Authority, have fostered an environment that attracts digital asset firms.
Tether’s embrace of the UAE
Tether has been increasing its presence in the region through initiatives such as its collaboration with RAK DAO to promote blockchain education and the acceptance of USDT as a virtual asset in the ADGM.
CEO Paolo Ardoino emphasized that the partnership aligns with Tether’s goal of fostering blockchain innovation and financial inclusion.
“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…together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region,” Ardoino said.
In August 2024, Tether announced plans to launch a stablecoin pegged to the UAE dirham. The company said it would collaborate with Phoenix Group PLC and Green Acorn Investments Ltd.
