IOTA Ecosystem DLT Foundation has secured its place as the first Distributed Ledger Technology (DLT) foundation registered with Abu Dhabi Global Market (ADGM) in the United Arab Emirates, marking a groundbreaking move. Committed to energizing the IOTA ecosystem, the foundation is set to receive a significant investment exceeding $100 million in IOTA tokens. The primary goal is to foster community-focused initiatives, catalyze the expansion of the IOTA protocol, and enhance regulatory synergy.
Altcoin IOTA and a Milestone Success in the MENA Region
In September, IOTA announced ambitious plans for a new foundation in Abu Dhabi, signaling a strategic move for global expansion. Today, the IOTA Ecosystem DLT Foundation has successfully registered under ADGM’s DLT Foundations Framework, positioning itself as a pioneer in bridging digital and real-world assets, particularly in the Middle East and North Africa (MENA) region.
Working closely with ADGM authorities, IOTA aims to reshape the regulatory environment by creating a link between traditional finance and the digital realm. ADGM’s progressive regulatory framework provides the ideal groundwork for this collaboration, paving the way for institutional investors and assets to integrate seamlessly into the digital ecosystem.
Investing in the Future: $100 Million for the IOTA Ecosystem
The IOTA Ecosystem DLT Foundation is gearing up to receive a pivotal investment totaling over $100 million in IOTA tokens over the next four years. This fund will be crucial in nourishing the IOTA ecosystem and promoting the growth of the IOTA protocol. Operating with a community-focused ethos, the foundation will actively seek partnerships to ensure IOTA’s adoption, including collaborations with corporate investors, governments, and academic institutions.
The foundation’s focus extends to the UAE’s potential infusion of billions of dollars into the crypto asset space, reaching as far as the tokenization of real-world assets. This move aligns with IOTA’s vision of developing a thriving crypto community within the ADGM ecosystem.
Shaping the Future: Decentralization and Regulatory Synergy
Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority (RA), emphasized the significance of welcoming IOTA to Abu Dhabi and positioning ADGM as a milestone in the Blockchain industry. The collaboration with IOTA signifies ADGM’s commitment to setting global benchmarks in the evolving Blockchain and Web3 landscape.
Dominik Schiener, Co-Founder and Chairman of the IOTA Foundation, spoke about the broader mission of the partnership, highlighting that this move is about creating a new era of regulatory synergy in the crypto markets beyond global expansion. Following the development, there was an increase of nearly 30% in the IOTA price. As of writing, the IOTA price is trading at $0.21.
- IOTA Foundation joins ADGM as a pioneering DLT entity.
- Significant investments aim to expand and integrate the IOTA ecosystem.
- Strategic partnership seeks to foster a new era of regulatory synergy.
