Key Points:
- Seamless Property Transactions: Tether partners with Reelly Tech to enable USDT stablecoin payments for real estate purchases.
- Growing Presence in the Middle East: Tether gains multiple approvals from UAE regulators, strengthening its regional influence.
- Challenges in the EU: Tether faces regulatory hurdles in Europe as exchanges delist USDT under new MiCA rules.
Tether and Reelly Tech Revolutionize Real Estate Transactions in the UAE
In a groundbreaking move, cryptocurrency firm Tether has joined forces with UAE-based real estate platform Reelly Tech to integrate its USDT stablecoin into property transactions. This collaboration aims to simplify real estate purchases by allowing buyers to use USDT as a payment method across 30,000 local and international real estate agents affiliated with Reelly Tech.
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The partnership will also introduce an interactive educational series on Reelly Tech’s platform, designed to promote the adoption of stablecoins in real estate transactions.
Dubai’s Real Estate Boom Boosts Crypto Adoption
Tether and Reelly Tech’s initiative aligns with the rapid growth of Dubai’s real estate market, which has seen a 27% surge in off-plan sales in 2024. The companies aim to leverage this momentum by demonstrating how stablecoins can streamline property transactions for buyers while expediting commercial processes for developers and agents.
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Founded in 2020, Reelly Tech serves as a business-to-business platform connecting thousands of agents across the UAE and globally. The company offers insights into 1,450 real estate projects and provides AI-driven solutions, training, podcasts, and industry events.
“Tether and Reelly are committed to showcasing innovative financial solutions that make property purchases more accessible and efficient,” the companies stated in a joint press release.
Tether Strengthens Middle East Presence Amid EU Challenges
Tether’s partnership with Reelly Tech follows a series of strategic moves in the Middle East. In December 2024, the Abu Dhabi Global Market (ADGM) recognized USDT as an accepted virtual asset, allowing financial service providers to integrate it into regulated financial systems. Additionally, in May 2024, Tether collaborated with Ras Al Khaimah (RAK) DAO to promote Bitcoin technology and stablecoin adoption.
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“The UAE’s leadership in digital assets and its forward-thinking regulatory stance make it an ideal environment for blockchain innovation,” said Tether CEO Paolo Ardoino.
However, while Tether expands in the UAE, it faces increasing scrutiny in the European Union. Under the new Markets in Crypto-Assets (MiCA) regulations, major exchanges such as Crypto.com and Coinbase have delisted USDT. Industry experts anticipate a full delisting of Tether’s stablecoin by March 31, 2025, prompting the company to invest in MiCA-compliant projects like StablR and Quantoz Payments.
Tether CEO Ardoino expressed concerns over the EU’s regulatory stance, warning that the hasty delisting of USDT could lead to instability in the crypto market.
Conclusion
As Tether deepens its presence in the Middle East, its latest collaboration with Reelly Tech marks a significant milestone in crypto adoption within the real estate sector. While the company faces regulatory challenges in the EU, its strategic expansion in the UAE underscores its commitment to driving stablecoin integration into global financial markets.
With Dubai’s real estate market booming and a growing demand for innovative financial solutions, USDT’s role in property transactions could pave the way for broader adoption of digital assets in the region.
