The IOTA token price has experienced an astounding 50% surge following the registration of the IOTA Ecosystem DLT Foundation with the Abu Dhabi Global Market (ADGM) in the United Arab Emirates (UAE). With over $100 million in tokens, the foundation aims to support the growth of the IOTA ecosystem and promote regulatory collaboration in the MENA region.
The establishment of the IOTA Ecosystem DLT Foundation in Abu Dhabi under the ADGM has had a significant impact on the cryptocurrency markets, resulting in a remarkable 50% increase in the price of the IOTA token. This development is a groundbreaking milestone in the blockchain sector, particularly in the Middle East and North Africa (MENA) region.
Exciting news! The IOTA Ecosystem DLT Foundation has become the first registered DLT foundation under ADGM in Abu Dhabi, UAE, leading to a 50% surge in the price of IOTA. This $100 million initiative aims to nurture the IOTA ecosystem, promote regulatory collaboration, and tokenize real-world assets.
The IOTA Ecosystem DLT Foundation is the first Distributed Ledger Technology (DLT) foundation to be registered with ADGM, signifying not only the expansion of IOTA but also its commitment to integrating the digital and financial sectors. This highlights the growing acceptance and institutional integration of blockchain technologies.
The foundation is set to receive a significant infusion of resources, with over $100 million in IOTA tokens allocated for the growth of the IOTA protocol over the next four years. This funding will support community-driven initiatives, forge valuable partnerships, and advance the adoption of IOTA and its staging network, Shimmer. The goal is to tokenize real-world assets and revolutionize the virtual asset space in the UAE.
The partnership with ADGM is particularly noteworthy, as ADGM is known for its progressive and responsive regulatory framework. This collaboration is expected to attract institutional investors and assets to the digital ecosystem, bridging the gap between traditional financial systems and the digital world.
Hamad Sayah Al Mazrouei, CEO of ADGM’s Registration Authority, emphasized the significance of welcoming IOTA into ADGM’s DLT regime, which strengthens Abu Dhabi’s position as a leading location in the blockchain industry and reflects the innovative spirit of ADGM’s DLT Foundations Framework. Dominik Schiener, Co-Founder and Chairman of the IOTA Foundation, highlighted the role of this partnership in fostering digital autonomy and regulatory synergy in the crypto markets, aiming to create a framework where diverse communities actively contribute to shaping technology and governance in the blockchain space.
The registration of the IOTA Ecosystem DLT Foundation with ADGM marks a significant milestone in the blockchain industry, particularly in terms of regulatory collaboration and innovation. This move has already had a substantial impact on the price of the IOTA token and is poised to shape the future trajectory of blockchain technology and digital finance. The strategic positioning and forward-thinking approach of the IOTA Foundation in Abu Dhabi are expected to have a lasting impact on the global blockchain landscape.