This deal has also helped cement Dubai as a centre of digital innovation, given that UnitedCoin.ae is an established cryptocurrency exchange in the United Arab Emirates. The partnership with one of the leading real estate companies in Dubai allows clients to exchange the stable coin USDT (Tether) into the local currency UAE dirham and buy high-end property in a fully compliant, safe and transparent way.
The strategic partnership offers a breakthrough to a problem that the market has always struggled with: enabling holders of digital assets to quickly convert crypto into a real-world investment like real property without overstepping the law. By using the strong exchange platform of the UnitedCoin and the deep market penetration of the real estate agency, vendors of USDT in Dubai will be able to transfer the money directly to luxury property investments.
In the past, these dealings were hampered by uncoordinated laws and poor infrastructure. The new framework facilitates it by being more streamlined, with real-time aid, faster transaction rates, and extensive legal supervision, providing a turnkey to local and international investors.
To comment on the initiative, the spokesperson of UnitedCoin said:
This collaboration will mean our mission of providing real-life value to crypto. Clients are now able to switch USDT to UAE real estate quicker than ever before- with complete trust in compliance and transparency.”
Rohit Bachani Co- Founder of Merlin Real Estate, commented:
It is more than a payment solution, it is an indication that digital currencies are becoming feasible to use as a means of high value transactions. We are happy to serve this next generation of investors.”
The property developer, which targets high-net-worth individuals, sells waterfront properties, branded residences, and luxury villas, and has registered an increasing number of crypto-savvy customers who want to invest in the Dubai property market via stablecoins such as USDT.
These trends are coming together at a most opportune time. The booming real-estate industry in Dubai still sets a record in foreign direct investment, and blockchain innovation remains a priority of the UAE government. By allowing customers to exchange USDT to sell in Dubai and instantly buy property at the high-quality realty market, UnitedCoin and its real-estate partner are setting new standards of what can be done at the juncture of crypto currency and real-estate property.
Through this strategic partnership, Dubai erects yet another flag in the world of digital economy in the sense that, the future of real estate is not only about luxury, but rather decentralized as well.
Source – https://gulfnews.com/business/corporate-news/unitedcoinae-partners-with-dubai-real-estate-firm-to-facilitate-crypto-property-transactions-1.500225560
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