Tether and Reelly Tech have entered a strategic partnership to incorporate USDT into real estate transactions across the UAE. The collaboration enables over 30,000 local and international agents on Reelly Tech’s platform to utilize the stablecoin for property purchases, improving transaction efficiency and security.

Tether Teams Up with Reelly Tech For Stablecoin Payments

According to a recent blog post, USDT issuer Tether has partnered with real estate platform Reelly Tech to enable the use of USDT for property transactions in the UAE. This move allows more than 30,000 agents on Reelly Tech’s platform to facilitate real estate deals using stablecoins.

Reelly Tech connects real estate agents with property developers, streamlining processes through AI solutions and detailed project analyses. More so, agents gain access to a new payment method that enhances speed and security in transactions. Buyers can now use USDT to purchase properties, reducing reliance on traditional banking systems.

The partnership also 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.

This partnership comes barely a week after the stablecoin issuer unveiled its AI SDK platform to enhance crypto applications. The AI SDK, built on the Bare JavaScript runtime, supports AI-driven tools such as translation, voice assistants, and Bitcoin wallet assistants. Tether’s move will streamline crypto transactions while leveraging AI for improved accessibility.

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 the increasing integration of blockchain technology.

Dubai’s real estate sector has also experienced unprecedented expansion. In 2024, off-plan property sales surged to 283 billion AED, marking a 27.5% increase from the previous year. The growing investor interest and demand for innovative financial solutions present an opportunity for blockchain-based payments to streamline transactions.

The collaboration with Reelly Tech aligns with the UAE’s push for digital transformation in financial services. By introducing stablecoin payments into real estate, the initiative supports the country’s evolving digital economy.

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. This allows licensed financial entities to offer USDT-related services.

Additionally, the stablecoin company has also collaborated with RAK DAO to promote education on Bitcoin and stablecoins. These efforts indicate a commitment to blockchain adoption and financial innovation in the region.

Paolo Ardoino, Tether CEO added,

“Together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region.”

Moreover, the stablecoin company’s investment in Bitcoin and gold boosted profits, reinforcing its financial strength. Tether’s growing Bitcoin reserves, now at 84,000 BTC, alongside $94.5 billion in U.S. Treasuries, contributed to its $13 billion profit in 2024.

The post Tether and Reelly Tech Partner To Boost UAE Real Estate With USDT appeared first on CoinGape.

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Filed under: News - @ February 6, 2025 4:01 pm