Cryptocurrency giant Tether and leading real estate platform Reelly Tech have signed a memorandum of cooperation that could radically change the approach to real estate transactions in the United Arab Emirates. More than 30,000 local and international agents will have access to use the USDt stablecoin in their operations, opening a new chapter in the history of the Middle Eastern real estate market.
With the rapid growth of the Dubai real estate market, this partnership is timely. In December 2024 alone, real estate sales in the construction phase reached an impressive AED 283 billion, up 27.5% year-on-year. This momentum creates an ideal environment for the introduction of innovative financial solutions.
A technological breakthrough against the backdrop of a growing market
Behind the dry statistics figures lies a profound market transformation.
Reelly Tech, founded in 2020, has established itself as a cutting-edge B2B platform that provides real estate agents with access to listings, advanced AI solutions for creating presentations, analytics on more than 1,450 projects, and educational resources.
The collaboration with Tether takes the platform’s capabilities to the next level. The partners are developing an interactive educational course to help agents learn the practical application of stablecoins in real estate transactions. “This is only the first step,” notes Vitaly Ryzhak, CEO of Reelly. “The UAE real estate market attracts capital from all over the world, and our goal is to make international real estate investment safe, efficient and easy.”
Read also: Ambitious Sobha Realty Project: A New Approach to the Real Estate Market.
The strategic importance of the partnership for the region
The UAE is ranked third globally regarding cryptocurrency adoption, behind Singapore and Hong Kong. The progressive regulatory environment created by Abu Dhabi Global Market and Dubai’s Virtual Asset Regulatory Authority has contributed to the growth of the local crypto market to $338 billion. In 2023, transaction volume in the UAE reached £34 billion, showing an increase of 42% – well above the MENA region average of 11.73%.
Paolo Ardoino, CEO of Tether, emphasizes the strategic importance of the partnership: “The UAE’s progressive approach to technology and the region’s leadership in the adoption of digital assets make it an ideal hub for innovation. ADGM financial regulators have already recognized Tether and is now working to launch a stablecoin pegged to the UAE dirham.
Read also: UAE Real Estate Market News Digest for the Period 15.01–30.01.2025.
This collaboration goes far beyond simply integrating blockchain technology into real estate. It is laying the foundation for a new digital ecosystem that can transform traditional approaches to real estate transactions in the region and beyond. Interested in real estate innovation? Follow our publications to keep up with the latest technological breakthroughs and trends in the UAE. We will continue to report on how digital technology is changing the face of today’s real estate market.
