Real estate in the UAE is booming and crypto businesses want in on it. Tether, the issuer of stablecoin announced their partnership on February 6, 2025, with Reelly Tech, a B2B real estate aggregator. The partnership will allow investors in the UAE to make payments for real estate with USDT.
The new collaboration also opens doors for both companies to work together on an interactive educational series on USDT and its functionality in the UAE’s 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.”
Reelly Tech brings over 290 real estate developers and over 32000 agents globally on a single platform. Developers contribute a percentage of the property’s sale value on the platform. Agents pay a subscription fee for access to advanced features.
Tether and Reelly Tech Announce Strategic Collaboration to Revolutionize Real Estate Transactions in the UAE
Learn more: https://t.co/dQcZe9P77i— Tether (@Tether_to) February 6, 2025
Real estate market has exploded in the UAE. To put it in context, off plan sales value for real estate in in the UAE reached 283 billion AED in 2024. That is a 27.5% increase from the year before. The partnership is trying to position USDT as a viable and stable financial tool.
If done properly, USDT could become a seamless and secure means of property transaction for agents, developers and buyers in the UAE.
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Are We Close to a Tether Launched Dirham Stablecoin?
The UAE ranks third just after Singapore and Hong Kong as a global leader in the crypto space. VARA and ADGM, the countries regulatory authorities have created favorable environment for crypto innovations and businesses to thrive. This has attracted many businesses to set up their base in the country.
Tether being one amongst them. The company expanding its regional presence through initiatives like its partnership with RAK DAO to advance blockchain education and the recognition of USDT as a virtual asset in ADGM.
Ardoino said, “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…together, we aim to streamline real estate transactions, promote sustainable growth, and set new benchmarks for innovation in the region.”
The company had announced plans to introduce a Dirham pegged stablecoin in August 2024 in partnership with Phoenix Group PLC and Green Acorn Investments Ltd.
Last we heard, the company wanted to launch a UAE Dirham pegged stablecoin on the TON blockchain. It was then seen as a pivotal move in its regional expansion strategy. This was discussed during the TON Gateway event in Dubai in November 2024.
Meanwhile, on February 2, 2025, the AE stablecoin, issued by AED Stablecoins LLC received full regulatory license from the CBUAE. It is pegged 1:1 to the Dirham and is the first stablecoin to receive full approval in the UAE.
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What is the future of Blockchain in Real Estate?
An increasing number of UAE based real estate developers are accepting crypto payments for international clients looking for seamless cross border transactions. DAMAC Properties, Binghatti Developers and Aldar Properties have already integrated crypto payment solutions to attract HNIs and other Digital Asset Investors.
Blockchain is transforming the real estate landscape in the UAE through smart contracts that automates property transactions without third party involvement. This eliminates paperwork and enables instant ownership transfers.
Real Estate tokenization too is gaining a lot of traction in the UAE. DAMAC Properties wants to tokenize $1 Billion worth of real estate in the Middle East. Through fractional ownership, tokenization attracts institutional investors and enhances market liquidity.
Blockchain ensures tamper proof ownership records, minimizing risks of fraud. This has recently led to Dubai Land Department to incorporate blockchain technology to prevent unauthorized sales, deed forgery etc.
With Dubai’s vision to become a blockchain powered city, the future of realty in the region is increasingly digital.
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