The IOTA token price has experienced a remarkable surge of 50% following the registration of the IOTA Ecosystem DLT Foundation with the Abu Dhabi Global Market (ADGM) in the United Arab Emirates (UAE). This foundation, which has been seeded with over $100 million in tokens, aims to foster the growth of the IOTA ecosystem and promote regulatory harmony in the Middle East and North Africa (MENA) region.
In a groundbreaking move that has had a significant impact on the cryptocurrency markets, the establishment of the IOTA Ecosystem DLT Foundation in Abu Dhabi has led to a 50% increase in the price of the IOTA token. This achievement is attributed to the foundation’s recent registration under the ADGM, marking a milestone in the blockchain sector, particularly in the MENA region.
Exciting news! The price of IOTA has skyrocketed by 50% as the IOTA Ecosystem DLT Foundation becomes the first registered DLT foundation under ADGM in Abu Dhabi, UAE! This $100 million initiative will nurture the IOTA ecosystem, promote regulatory synergy, and tokenize… [image]
The IOTA Ecosystem DLT Foundation holds the distinction of being the first Distributed Ledger Technology (DLT) foundation registered with the ADGM. This strategic decision not only signifies the expansion of IOTA, but also demonstrates its commitment to integrating the digital and financial sectors. It is a clear indication of the increasing acceptance and institutional integration of blockchain technologies.
The foundation is set to receive a substantial infusion of resources, with over $100 million in IOTA tokens allocated to foster 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. These efforts are focused on tokenizing real-world assets and revolutionizing the virtual asset space in the UAE.
The collaboration with ADGM is particularly noteworthy due to its progressive and responsive regulatory framework, making it an ideal partner for IOTA. This partnership is expected to attract institutional investors and assets into the digital ecosystem, bridging the gap between traditional financial systems and the digital world.
Hamad Sayah Al Mazrouei, the CEO of ADGM’s Registration Authority, emphasized the importance of welcoming IOTA into ADGM’s DLT regime, further strengthening Abu Dhabi’s position as a prime location for the blockchain industry. 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. The focus is not just on global expansion, but on establishing a framework where diverse communities actively contribute to shaping technology and governance in the blockchain space.
The registration of the IOTA Ecosystem DLT Foundation under ADGM marks a significant step forward 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 set 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 poised to leave a lasting impact on the global blockchain landscape.
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