Tether Operations Limited, which claims to be one of the largest companies in the digital asset industry, has signed a Memorandum of Understanding (MoU) with Reelly Tech, one of the real estate B2B platforms in the UAE.
This marks an advancement in the evolution of real estate tech, according to the announcement.
Through this initiative, local and international agents on Reelly Tech’s platform will be empowered to leverage the power of USDT, “streamlining processes and driving efficiency.”
As part of this collab, Tether and Reelly Tech will develop an educational series to be supported by Reelly Tech’s platform.
This initiative aims to assist agents in exploring the transformative potential of stablecoins in property transactions and “understanding the various practical applications, such as USDT transfers for real estate purchases, with confidence and security.”
Reelly is a B2B platform connecting agents across the UAE and international markets.
It offers analysis of more than 1,450 projects and AI solutions “for generating branded presentations, enabling agents to save countless hours.”
For developers, the solution simplifies communication “with agents, reduces marketing costs, and offers real-time analytics on agent performance.”
The company plays a role in the real estate developer market, where agents facilitate approximately “95% of all property transactions in the UAE.”
Positioned to integrate with this key channel, it ensures that “developers can capitalize on every lead.”
This initiative comes as the Dubai real estate market is “beginning to experience unprecedented growth.”
In December 2024, off-plan sales value for the year reached “283 Billion AED, a 27.5% increase from the previous year (205 Billion AED in 2023).”
By leveraging this momentum, Tether and Reelly aim to showcase and educate on innovative financial solutions “that use stablecoins to simplify property purchases for buyers and accelerate commercial processes for developers and agents.”
According to Chainalysis and the Henley Index 2024 report, the UAE ranks third globally in cryptocurrency adoption, “following Singapore and Hong Kong, and has emerged as a hub for digital asset innovation.”
Its regulatory framework, including the Abu Dhabi Global Market (ADGM) and Dubai’s Virtual Asset Regulatory Authority (VARA), has “created a supportive ecosystem that attracted numerous firms, driving the region’s crypto market to $338 billion.”
In 2023, the UAE has reportedly recorded “£34 billion in transactions, a 42% year-on-year growth—significantly surpassing the MENA region’s average of 11.73%.”
Furthermore, the UAE’s commitment to embracing digital assets is evidenced by initiatives like Tether’s plan to launch a stablecoin pegged to the UAE dirham.
The collab between Tether and Reelly Tech aligns with Tether’s mission to foster blockchain innovation and education globally.
Recently, Tether has made strides in the Middle East, including the acceptance of USD₮ by the Financial Services Regulatory Authority (FSRA) as an Accepted Virtual Asset (AVA) in the Abu Dhabi Global Market (ADGM) as well as collaborations such as its work with RAK DAO in Ras Al Khaimah to support educational initiatives focused on Bitcoin and stablecoins.
These efforts underscore Tether’s commitment to supporting the adoption of blockchain technologies, “driving sustainable economic growth, and empowering businesses and individuals.”
Paolo Ardoino, CEO of Tether, stated,
“This initiative reflects our commitment to advancing resilient digital economies by empowering individuals and businesses with the tools and knowledge to thrive in a digital world. 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, and we are honored to contribute to its vision for a forward-looking and prosperous digital economy. 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 joint launch of the training program is only the first step. The UAE real estate market is experiencing dynamic growth, attracting large amounts of capital from around the world. We aim to make international real estate investment safe, efficient, and easy. To do this, we plan to create tools to open up new opportunities for using USDT in real estate transactions.”
This collab signifies a step toward integrating blockchain technologies into traditional industries like real estate.
Tether and Reelly Tech are laying the foundation for a digital real estate ecosystem that aims to “enhance efficiency, drives sustainable growth, and sets new industry standards in the region and beyond.”