Big changes are coming to the UAE’s real estate market – thanks to crypto. Tether, the world’s largest stablecoin issuer, has just signed a major agreement with Reelly Tech, a leading real estate platform.
The collaboration will allow over 30,000 local and international agents on Reelly Tech’s platform to use USDT, making property transactions more efficient and seamless. By integrating stablecoins, the process becomes faster and more secure, benefiting buyers, developers, and agents alike.
As part of the partnership, Tether and Reelly Tech will launch an educational series to help real estate agents understand the benefits of stablecoins in property deals. The initiative will cover secure USDT transfers, practical applications, and how digital assets can simplify real estate purchases.
Tether’s CEO, Paolo Ardoino, expressed enthusiasm about the partnership:
“Together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region,” he noted.
Reelly Tech is a major player in the UAE’s real estate sector, where agents handle 95% of property transactions. Its platform helps developers convert every lead into a sale, making it an essential part of the industry.
With Dubai’s real estate market expanding rapidly, this partnership is set to enhance property purchases through stablecoins. The UAE ranks third in global cryptocurrency adoption, according to the Henley Index 2024.
The country’s strong crypto regulations—led by Abu Dhabi Global Market (ADGM) and Dubai’s Virtual Asset Regulatory Authority (VARA)—have helped the market grow to $338 billion, with £34 billion in transactions in 2023, marking a 42% year-on-year increase.
Tether is also preparing to launch a stablecoin pegged to the UAE dirham (AED) to meet rising local demand. This move highlights the UAE’s dedication to digital assets and blockchain innovation.
With supportive regulations and growing adoption, the UAE is set to become a global leader in blockchain-powered real estate.
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