IOTA establishes $100 million foundation in Abu Dhabi, surges nearly 70% in a single day
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IOTA Establishes $100 Million Foundation in Abu Dhabi
IOTA's tweet stated that this is the first foundation focused on Distributed Ledger Technology (DLT) and regulated by the Abu Dhabi Global Market (ADGM), which will accelerate the development of DLT in the Middle East.
The IOTA Foundation will inject over $100 million worth of IOTA tokens as a seed fund to support and accelerate the development of the IOTA ecosystem.
IOTA co-founder Dominik Schiener revealed to Reuters that IOTA will start to involve asset tokenization, where assets such as land and property ownership can exist in digital token form on the blockchain.
IOTA Surges Nearly 70% in a Single Day
IOTA surged 69.4% on the 29th, reaching a high of $0.28 from $0.17, before retracting to $0.24 by the time of reporting.
