- Tether partners with Reelly Tech to integrate USDT into UAE’s booming real estate market, enhancing efficiency for buyers and agents.
- Educational initiatives and stablecoin adoption aim to drive blockchain innovation in property transactions amid Dubai’s surging real estate sector.
After Tether’s USDT was recognized as an accepted virtual asset by Abu Dhabi Global Market’s FSRA, according to Crypto News Flash’s late 2024 update, Tether has made a significant move to modernize the UAE’s real estate sector. The company has partnered with Reelly Tech, a leading B2B real estate platform, to integrate the USDT stablecoin into property transactions.
This collaboration enables over 30,000 local and international agents on Reelly Tech’s platform to utilize USDT, aiming to streamline processes and enhance efficiency in the region’s rapidly growing market. 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. 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.
Educational Initiative on Stablecoins in Real Estate
As part of this partnership, Tether and Reelly Tech plan to develop an interactive educational series to be featured on Reelly Tech’s platform. This initiative is designed to help agents understand how stablecoins can transform property transactions, covering practical applications such as secure USDT transfers for real estate purchases. Vitaliy Ryzhak, CEO of Reelly Tech, commented:
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.
Dubai’s Booming Real Estate Market
Dubai’s real estate sector is experiencing unprecedented growth, with off-plan sales reaching 283 billion AED in 2024, marking a 27.5% increase from the previous year. This surge reflects the city’s dynamic property market, attracting significant capital inflows from around the world.
The partnership between Tether and Reelly Tech aims to capitalize on this momentum by simplifying property purchases through the use of stablecoins, thereby enhancing efficiency for buyers, developers, and agents.
USDT and ETH Price Update
As of February 6, 2025, Tether (USDT) is trading at $1.00, maintaining its peg to the U.S. dollar. The stablecoin’s price stability continues to make it a preferred medium for transactions in various sectors, including real estate.
Tether (USDT) and Ethereum (ETH) share a deeply interconnected role in the crypto ecosystem, particularly in real estate tokenization and financial settlements. The majority of USDT transactions occur on the Ethereum blockchain. Ethereum (ETH) is currently trading at approximately $2,723.60, reflecting a decrease 4.31% in the past day and a 16.09% decrease over the past week.
