IOTA’s price has increased by 7% in the past 26 days, following the official launch of the IOTA Ecosystem DLT Foundation in the UAE.
This important news broke the cool-down period of IOTA price, pushing the price from $0.179 to a high of $0.270. The DLT Foundation positioned IOTA as a protocol with broad applications, advancing its mission of connecting the world within the regulatory environment of the UAE.
IOTA Ecosystem DLT Foundation
According to the announcement, the DLT Foundation has been registered with the Abu Dhabi Global Market (ADGM) in accordance with the DLT Foundation Regulations.
The DLT Foundation is launched with a $10 billion seed fund registered in IOTA tokens. The fund is planned to last for 4 years and aims to promote the development of the IOTA ecosystem and accelerate the development of innovative DLT technologies.
The DLT Foundation is the first of its kind in the region and aims to establish strategic partnerships to drive IOTA adoption and integrate Shimmer technology.
An important mission of the DLT Foundation is to promote the adoption of IOTA technology in all sectors of the UAE economy, including government and academic institutions. #IOTA
As the crypto ecosystem continues to grow, IOTA enters a new era as it works through the DLT Foundation to foster the diverse adoption of its technology across continents.
IOTA lays the foundation for growth
IOTA’s latest expansion into Abu Dhabi is the result of months of targeted preparation.
As reported earlier by The Crypto Basic, the protocol partnered with Multichain Protocol in April this year to join Shimmer interoperability.
In addition to the UAE, IOTA is also in the final stages of a blockchain pre-commercial procurement (PCP) program in Europe.
The protocol has gained high recognition for its technology, and entering the UAE could be key to expanding its influence.
