Tether, one of the world’s largest stablecoin issuers has announced the signing of a Memorandum of Understanding (MoU) with Reelly Tech, a leading B2B real estate platform in the UAE. The partnership aims to revolutionize property transactions by enabling agents and developers to utilize USDT for real estate purchases, enhancing efficiency and security in one of the region’s fastest-growing markets.
Reelly Tech’s 30,000+ agents will gain access to blockchain-based financial solutions, reducing transaction friction and accelerating deal closures. To support this transition, Tether and Reelly will launch an interactive educational series to help real estate professionals understand the benefits and applications of stablecoins in property transactions.
Paolo Ardoino, CEO of Tether, stated, “We are excited to collaborate with Reelly Tech to drive blockchain innovation in the UAE’s rapidly evolving real estate sector. Together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region.”
Vitaliy Ryzhak, CEO of Reelly, said, “The UAE real estate market is experiencing dynamic growth, attracting large amounts of capital from around the world. We plan to create tools to open up new opportunities for using USDT in real estate transactions.”
This collaboration comes as Dubai’s real estate market surges, with off-plan sales reaching $77 billion (283 billion AED) in 2024, a 27.5% increase from the previous year. With the UAE ranking third globally in crypto adoption, Tether continues to expand its footprint in the region, recently securing regulatory approval for USDT in Abu Dhabi Global Market (ADGM).
By integrating stablecoin payments into real estate, Tether and Reelly Tech are paving the way for a more efficient and transparent property market, aligning with the UAE’s blockchain-friendly regulatory approach.
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