Tether & Reelly Tech: Revolutionizing UAE Real Estate with USDT

Tether, the issuer of the world's largest stablecoin, USDT, has signed a Memorandum of Understanding (MoU) with Reelly Tech, a leading real estate platform in the United Arab Emirates (UAE). The partnership aims to integrate USDT into the UAE's real estate market, enhancing property transactions by making them faster, more secure, and more efficient.

Through this agreement, USDT will become available to more than 30,000 real estate agents on the Reelly Tech platform, enabling them to use the stablecoin for their property transactions. Tether and Reelly Tech also plan to create an educational program to teach agents how to safely and effectively utilize USDT in property deals, ultimately providing better service to their clients.

Reelly Tech serves as a connection platform that links real estate developers with thousands of agents, offering access to a database of over 1,450 projects and AI tools for crafting expert-level presentations. The platform also provides educational resources, podcasts, and networking events to support professional development for agents, who are the primary property stakeholders in the UAE.

The UAE's real estate sector is experiencing rapid growth, with off-plan property sales in Dubai increasing by 27.5% in 2024 to reach 283 billion AED. This market expansion presents an ideal opportunity to launch digital payment systems like USDT, which can increase transaction efficiency and reduce operational costs, attracting more international investors.

The UAE has emerged as a global leader in cryptocurrency adoption, ranking third worldwide after Singapore and Hong Kong. The country's supportive government policies have encouraged digital asset companies to establish operations there, with the total volume of cryptocurrency transactions surging by 42% in 2023 to reach £34 billion. The UAE's embrace of blockchain technology has led to positive developments across various business sectors.

Tether, a blockchain technology company, plays an active role in promoting digital currencies in the Middle East. The company has received authorization from regulatory entities in Abu Dhabi for its virtual asset, USD₮, and collaborates with RAK DAO to provide education on Bitcoin and stablecoins to business customers. Through its partnership with Reelly Tech, Tether seeks to contribute to the creation of digital economies in the region.