{"id":24803,"date":"2023-11-29T19:39:52","date_gmt":"2023-11-29T19:39:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/iota-announces-100-million-ecosystem-dlt-foundation-in-the-uae\/"},"modified":"2023-11-29T19:39:52","modified_gmt":"2023-11-29T19:39:52","slug":"iota-announces-100-million-ecosystem-dlt-foundation-in-the-uae","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/iota-announces-100-million-ecosystem-dlt-foundation-in-the-uae\/","title":{"rendered":"IOTA announces $100 million Ecosystem DLT Foundation in the UAE"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/iota-launches-dlt-foundation-abu-dhabi-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/iota-launches-dlt-foundation-abu-dhabi-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/iota-launches-dlt-foundation-abu-dhabi-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/iota-launches-dlt-foundation-abu-dhabi-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">IOTA continues strategic expansion with first DLT Foundation in the UAE\u2019<\/span><\/li>\n<li>The IOTA Foundation will allocate $100 million to the initiative.<\/li>\n<li>IOTA price was rallying after the news, up 50% at the time of writing.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">IOTA\u2019s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE).<\/span><\/p>\n<p><span style=\"font-weight: 400\">The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA\u2019s expansion in the Middle East and North Africa (MENA) region. The news came as the <a href=\"https:\/\/coinjournal.net\/iota\/\">IOTA price<\/a> spiked more than 50% to above $0.26.<\/span><\/p>\n<h2><b>IOTA Foundation allocates $100 million to initiative<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Per today\u2019s<\/span><a href=\"https:\/\/blog.iota.org\/iota-first-dlt-registered-adgm-in-uae\/\"> <span style=\"font-weight: 400\">announcement<\/span><\/a><span style=\"font-weight: 400\">, an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the <a href=\"https:\/\/coinjournal.net\/news\/tag\/iota\/\">IOTA protoco<\/a>l.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The funding will also go towards community-driven projects and regulatory synergy, the IOTA Foundation said. Among initiatives to receive greater attention will be those targeted at IOTA and Shimmer, its staging network.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On what this means for IOTA\u2019s push to align with regulatory developments, IOTA co-founder Dominik Schiener, said:<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cThe IOTA Foundation\u2019s support from ADGM and our partnership with UAE authorities is about more than global expansion. It\u2019s about ushering in a new era of regulatory synergy in the crypto markets. We want to ensure that we take the right steps toward digital autonomy for everyone, and that means making sure a diversity of communities take an active role in shaping the Foundation\u2019s technology and governance.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">IOTA\u2019s partnership with the ADGM comes as the UAE increasingly becomes an important international crypto destination. As a leading financial center, the country has attracted several blockchain and crypto-related companies.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Today, stablecoin issuer Paxos announced it had secured <a href=\"https:\/\/coinjournal.net\/news\/paxos-receives-two-new-in-principle-approvals-in-abu-dhabi\/\">two in-principle approvals<\/a> from the Financial Services Regulatory Authority (FSRA). The company is now set to issue stablecoins and provide brokerage and custody services in the ADGM.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/iota-announces-100-million-ecosystem-dlt-foundation-in-the-uae\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) IOTA continues strategic expansion with first DLT Foundation in the UAE\u2019 The IOTA Foundation will allocate $100 million to the initiative. IOTA price was rallying after the news, up 50% at the time of writing. IOTA\u2019s strategic expansion has reached another milestone with [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24803"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24803"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24804"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}