Stablecoin

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Dubai

Cryptocurrency firm Tether is expanding the use of its USDt stablecoin in real estate transactions through a new partnership with Reelly Tech, a United Arab Emirates-based real estate platform.
The partnership aims to simplify property transactions using Tether’s USDt (<a href="https://cointelegraph.com/tether-price-index" rel="noopener noreferrer nofollow" target="null">USDT</a>) stablecoin.
As part of the partnership, Reelly Tech will offer its customers the opportunity to use USDt to purchase real estate at 30,000 local and international Reelly Tech agents, <a href="https://tether.io/news/tether-and-reelly-tech-announce-strategic-collaboration-to-revolutionize-real-estate-transactions-in-the-uae/" rel="noopener noreferrer nofollow" target="_blank">according</a> to the announcement.
Additionally, Tether and Reelly Tech will develop an interactive educational series to be included on Reelly Tech’s platform, aiming to promote the use of stablecoins in real estate transactions.
<h2 id="dubai-real-estate-market-is-booming">Dubai real estate market is booming</h2>
The initiative comes as the Dubai real estate market experiences unprecedented growth, with off-plan sales surging 27% in 2024, according to the announcement.
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 “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.”
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Founded in 2020, Reelly is a business-to-business platform connecting thousands of agents across the UAE and global markets. In addition to property listings, Reelly also offers an analysis of 1,450 projects and artificial intelligence solutions, as well as providing training, podcasts and events.
“The company plays a pivotal role in the real estate developer market, where agents facilitate approximately 95% of all property transactions in the UAE,” the firms said in the joint announcement.
Related: <a href="https://cointelegraph.com/news/tether-usdt-stablecoin-integrates-bitcoin-lightning" rel="noopener noreferrer nofollow" target="null">Tether’s stablecoin to be integrated into Bitcoin Lightning</a>
<h2 id="tether-cements-presence-in-the-middle-east">Tether cements presence in the Middle East</h2>
The new collaboration follows Tether’s significant strides in the Middle East, with the company receiving multiple approvals from UAE regulators in recent months.
In December 2024, Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority <a href="https://cointelegraph.com/news/abu-dhabi-approves-tether-usdt-stablecoin" rel="noopener noreferrer nofollow" target="null">officially recognized USDt</a> as an accepted virtual asset. The approval enabled licensed financial service providers within the ADGM to offer USDt services to facilitate its integration into regulated financial ecosystems.
Tether also <a href="https://tether.io/news/tether-signs-mou-with-rak-dao-to-develop-educational-initiatives-on-bitcoin-and-stablecoins-in-the-ras-al-khaimah-region/" rel="noopener noreferrer nofollow" target="null">collaborated</a> with the UAE’s specialized economic free zone Ras Al Khaimah (RAK) Digital Assets Oasis in May 2024, aiming to launch several strategic initiatives to help foster the adoption of Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null">BTC</a>) technology and stablecoins.
“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,” Tether CEO Paolo Ardoino said.
<h2 id="tether-s-usdt-faces-troubles-in-the-eu-amid-mica-implementation">Tether’s USDt faces troubles in the EU amid MiCA implementation</h2>
Tether’s new moves in the UAE come as USDt — the largest stablecoin by market cap — faces regulatory issues in the European Union.
On Jan. 29, global crypto exchange Crypto.com said it had <a href="https://cointelegraph.com/news/crypto-com-delist-usdt-europe-mica-compliance" rel="noopener noreferrer nofollow" target="null">started delisting USDt</a> to comply with the EU’s <a href="https://cointelegraph.com/learn/articles/markets-in-crypto-assets-regulation-mica" rel="noopener noreferrer nofollow" target="null">Markets in Crypto-Assets (MiCA)</a> framework. In doing so, Crypto.com followed in the steps of exchanges such as Coinbase, which <a href="https://cointelegraph.com/news/coinbase-delisting-tether-usdt-stablecoin-europe" rel="noopener noreferrer nofollow" target="null">delisted USDt over MiCA</a> in late 2024.
As many crypto regulation observers expect EU crypto asset service providers (CASPs) to <a href="https://cointelegraph.com/news/eu-regulator-restriction-non-mica-compliant-stablecoins" rel="noopener noreferrer nofollow" target="_self">fully delist USDt</a> by March 31, the company has been finalizing its European strategy.
As part of the strategy, Tether has been <a href="https://cointelegraph.com/news/tether-invests-europe-stablecoin-stablr-usdt-uncertainty" rel="noopener noreferrer nofollow" target="null">investing in new MiCA-compliant stablecoin</a> projects such as StablR and <a href="https://cointelegraph.com/news/quantoz-eurq-usdq-micar-stablecoins-launch" rel="noopener noreferrer nofollow" target="null">Quantoz Payments</a>.
Ardoino also mentioned that the firm was disappointed by <a href="https://cointelegraph.com/news/tether-mica-usdt-delistings-europe" rel="noopener noreferrer nofollow" target="null">European CASPs’ rush</a> to delist USDT, warning of potential “disorderly” risks to the crypto market.
Magazine: <a href="https://cointelegraph.com/magazine/illicit-marketplace-stablecoin-sony-memecoin-asia-express/" rel="noopener noreferrer nofollow" target="null">Stablecoin for cyber-scammers launches, Sony L2 drama: Asia Express</a>

Tether brings USDT stablecoin to UAE real estate market with Reelly Tech

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