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Tether and Reelly Tech Partner to Boost UAE Real Estate with USDT
Tether Teams Up with Reelly Tech for Stablecoin Payments in UAE
Reelly Tech, a leading real estate platform, has partnered with Tether, a leading stablecoin issuer, to incorporate USDT into real estate transactions across the United Arab Emirates (UAE). This strategic collaboration enables over 30,000 real estate agents on Reelly Tech’s platform to utilize USDT for property purchases, enhancing transaction efficiency and security.
Reelly Tech: A Leading Real Estate Platform
Reelly Tech connects real estate agents with property developers, streamlining processes through AI solutions and detailed project analyses. With this partnership, agents gain access to a new payment method that accelerates transactions and reduces reliance on traditional banking systems. Buyers can now use USDT to purchase properties, promoting a more efficient and secure transaction process.
The Partnership: An Educational Initiative
The partnership includes an educational initiative aimed at training real estate professionals on how to use stablecoins in property transactions. Tether and Reelly Tech will develop interactive content to guide agents in adopting USDT for real estate purchases, ensuring a seamless transition to this new payment method.
UAE’s Growing Crypto Adoption
The UAE has emerged as a key global hub for digital assets, ranking third in cryptocurrency adoption according to the Henley Index 2024. The country’s digital asset market recorded a volume of $338 billion, reflecting its rapid growth and increasing integration of blockchain technology.
Dubai’s Real Estate Sector: Unprecedented Growth
Dubai’s real estate sector has experienced unprecedented expansion, with off-plan property sales surging to 283 billion AED in 2024, marking a 27.5% increase from the previous year. Growing investor interest and demand for innovative financial solutions present an opportunity for blockchain-based payments to streamline transactions.
The Middle East Market
Tether has been expanding its footprint in the Middle East through various initiatives. In December 2024, the Abu Dhabi Global Market (ADGM) officially recognized USDT as an accepted virtual asset, allowing licensed financial entities to offer USDT-related services.
Tether’s Commitment to Blockchain Adoption and Financial Innovation
Paolo Ardoino, Tether CEO, commented on the partnership:
"Together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region."
FAQs
Q: What is the purpose of the Tether and Reelly Tech partnership?
A: The partnership aims to incorporate USDT into real estate transactions across the UAE, enhancing transaction efficiency and security.
Q: How will the partnership benefit real estate agents?
A: The partnership will provide agents with a new payment method, USDT, which will accelerate transactions and reduce reliance on traditional banking systems.
Q: What is the educational initiative included in the partnership?
A: The partnership includes an educational initiative to train real estate professionals on how to use stablecoins in property transactions, ensuring a seamless transition to this new payment method.
Q: What is the current state of the UAE’s digital asset market?
A: The UAE has emerged as a key global hub for digital assets, ranking third in cryptocurrency adoption according to the Henley Index 2024, with a digital asset market volume of $338 billion.
Q: What is the current state of Dubai’s real estate sector?
A: Dubai’s real estate sector has experienced unprecedented growth, with off-plan property sales surging to 283 billion AED in 2024, marking a 27.5% increase from the previous year.
