The partnership targets UAE’s $141B real estate market, with Reelly handling 95% of property transactions through their B2B platform.
The educational series will train 30k+ agents on stablecoin integration, marking a significant shift in real estate payment methods.
USDT gains regulatory approval as Accepted Virtual Asset in Abu Dhabi Global Market, strengthening its position in MENA region.
Tether Operations Limited, the largest stablecoin issuer based in El Salvador, has announced a strategic partnership with Reelly Tech, a B2B platform that has revolutionized the real estate industry in the United Arab Emirates (UAE). The two entities signed a memorandum of understanding (MoU) to revolutionize the booming real estate industry in the UAE through the use of blockchain payments.
Reelly platform brings together real estate agents and developers to facilitate a seamless sale of projects in Dubai. According to Reelly, more than 30k local and international agents will leverage Tether’s to improve payment efficiency. Furthermore, there are more than 1,450 real estate projects on the Reelly platform awaiting purchases.
The two entities intend to develop a comprehensive interactive educational series, which will be promoted on Reelly’s platform. The initiative is aimed at educating agents about exploring the prowess of stablecoins to transform real estate transactions.
“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,” Paolo Ardoino, CEO of Tether noted.
“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,” Paolo Ardoino, CEO of Tether .
Impact of the Collaboration Between Tether and Reelly on USDT
The Donald Trump administration has emphasized the importance of US dollar-backed stablecoins to ensure its dominance as the global reserve currency. Amid the mainstream adoption of digital assets and Web3 protocols, Tether’s USDT recently reached an all-time high of over $141 billion and a 24-hour trading volume of around $44 billion.
The strategic partnership between Reelly and Tether will enable USDT to grow its market dominance, especially in the UAE. Furthermore, Tether has made significant strides towards securing a solid future in the Middle East through a regulated manner.
For instance, the Financial Services Regulatory Authority (FSRA) Tether’s USDT as an Accepted Virtual Asset (AVA) in the Abu Dhabi Global Market (ADGM). With Reelly facilitating about 95 percent of all the property transactions in the UAE, Tether’s USDT is well positioned to heavily benefit in the long haul.
“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,” Vitaliy Ryzhak, CEO of Reelly, noted.
“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,” Vitaliy Ryzhak, CEO of Reelly, noted.