- The new IOTA Ecosystem DLT Foundation is the first Distributed Ledger Technology (DLT) foundation registered in the Abu Dhabi Global Market (ADGM) in the United Arab Emirates.
- IOTA aims to collaborate with ADGM authorities, promote regulatory progress, and bridge the gap between the real world and the digital world.
- The IOTA Ecosystem DLT Foundation will be supported by over $100 million in IOTA tokens and will be released over the next four years.
The popular altcoin project IOTA has announced the launch of a new fund and revealed its expansion in the United Arab Emirates.
IOTA Announces Launch of New Fund
The new IOTA Ecosystem DLT Foundation is the first Distributed Ledger Technology (DLT) foundation registered in the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. The IOTA Ecosystem DLT Foundation will be supported by over $100 million in IOTA tokens and aims to support the IOTA ecosystem, accelerate the growth of the IOTA protocol in the region, encourage community-driven initiatives, and strengthen regulatory cooperation.
IOTA aims to collaborate with ADGM authorities, promote regulatory progress, and bridge the gap between the real world and the digital world. ADGM has one of the most progressive and responsive regulatory frameworks, and this collaboration is seen as a significant step in attracting institutional investors and assets to the digital ecosystem.
The IOTA Ecosystem DLT Foundation will be supported by over $100 million in IOTA tokens and will be released over the next four years. This funding is allocated to nurture the IOTA ecosystem and accelerate the growth of the IOTA protocol. In line with its community-focused ethos, the IOTA Ecosystem DLT Foundation will encourage valuable partnerships in the region to advance the adoption of IOTA and its coordination network Shimmer in various industries. This will involve collaboration with institutional investors, governments, and academic institutions in tokenizing assets and bringing them onto the chain, enabling billions of dollars to enter the virtual asset space in the United Arab Emirates.
This initiative in the UAE aims to cultivate a vibrant crypto community within the ADGM ecosystem. Future regularly organized events will promote a shared vision for a decentralized future and further solidify Abu Dhabi’s position as a crypto hub with its legal framework.
IOTA Token Soars After the News
IOTA, the native token of the IOTA ecosystem, has experienced incredible gains, surging over 20% following the news shared on COINOTAG PRO. The current price of the IOTA token is $0.2266. You can join COINOTAG PRO for early access to news: Click to join COINOTAG PRO
[COINOTAG NEWS]
After the IOTA news, IOTA gained a total of 17.8% 💸 https://t.co/HbOoxVx5Ny
This news published on COINOTAG PRO 5 seconds ago. pic.twitter.com/NvQDvVjlF9
— COINOTAG NEWS (@coinotagen) November 29, 2023
