6 February 2025 — Tether Operations Limited, the largest company in the digital asset industry, has signed a groundbreaking Memorandum of Understanding (MoU) with Reelly Tech, one of the leading real estate B2B platforms in the UAE. This marks a significant advancement in the evolution of real estate technology, setting the stage for future innovation in the industry. Through this initiative, over 30,000 local and international agents on Reelly Tech’s platform will be empowered to leverage the power of USDT, streamlining processes and driving efficiency in one of the region’s most dynamic markets.
As part of this collaboration, Tether and Reelly Tech will develop a comprehensive interactive educational series to be promoted on Reelly Tech’s platform. This initiative aims to assist agents in exploring the transformative potential of stablecoins in property transactions and understanding the various practical applications, such as USDT transfers for real estate purchases, with confidence and security.
Reelly is a B2B platform connecting over 30,000 agents across the UAE and international markets. It offers in-depth analysis of more than 1,450 projects and AI solutions for generating branded presentations, enabling agents to save countless hours. Beyond property listings, the platform fosters professional growth through training, podcasts, and events, creating a vibrant community of real estate professionals. For developers, the one-stop solution simplifies communication with agents, reduces marketing costs, and offers real-time analytics on agent performance. The company plays a pivotal role in the real estate developer market, where agents facilitate approximately 95% of all property transactions in the UAE. Uniquely positioned to integrate with this key channel, it ensures developers can capitalize on every lead.
This initiative comes as the Dubai Real estate market is beginning to experience unprecedented growth. In December 2024, off-plan sales value for the year reached 283 Billion AED, a 27.5% increase from the previous year (205 Billion AED in 2023). By leveraging this momentum, Tether and Reelly aim to showcase and educate on innovative financial solutions that use stablecoins to simplify property purchases for buyers and accelerate commercial processes for developers and agents.
According to Chainalysis and the Henley Index 2024 report, the UAE ranks third globally in cryptocurrency adoption, following Singapore and Hong Kong, and has emerged as a leading hub for digital asset innovation. Its proactive regulatory framework, including the Abu Dhabi Global Market (ADGM) and Dubai’s Virtual Asset Regulatory Authority (VARA), has created a supportive ecosystem that attracted numerous firms, driving the region’s crypto market to $338 billion. In 2023 alone, the UAE recorded £34 billion in transactions, a 42% year-on-year growth—significantly surpassing the MENA region’s average of 11.73%. Furthermore, the UAE’s commitment to embracing digital assets is evidenced by initiatives like Tether’s plan to launch a stablecoin pegged to the UAE dirham, catering to the growing demand in the area.
The collaboration between Tether and Reelly Tech aligns with Tether’s broader mission to foster blockchain innovation and education globally. In recent months, Tether has made significant strides in the Middle East, including the acceptance of USD₮ by the Financial Services Regulatory Authority (“FSRA”) as an Accepted Virtual Asset (“AVA”) in the Abu Dhabi Global Market (“ADGM”) as well as collaborations such as its work with RAK DAO in Ras Al Khaimah to promote education on Bitcoin and stablecoins. These efforts underscore Tether’s commitment to supporting the responsible adoption of blockchain technologies, driving sustainable economic growth, and empowering businesses and individuals worldwide.
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. This initiative reflects our commitment to advancing resilient digital economies by empowering individuals and businesses with the tools and knowledge to thrive in a digital world. 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.”
Vitaliy Ryzhak, CEO of Reelly, said, “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.”
This collaboration signifies a significant step toward integrating blockchain technologies into traditional industries like real estate. It reinforces Tether’s commitment to innovation and financial inclusion. Together, Tether and Reelly Tech are laying the foundation for a digital real estate ecosystem that enhances efficiency, drives sustainable growth, and sets new industry standards in the region and beyond.
