Hassan Maishera
The IOTA team announced via a blog post on Thursday that its foundation has $10 million to support early-stage startups and ventures focusing on TradeTech, Trade Finance, and tokenization solutions.
The funding aims to bolster a digital tradetech ecosystem in the UAE, Africa, and around the globe by advancing the roll-out of digital trade and finance solutions. The funds are earmarked for early-stage startups, accelerator programs, and pilot programs that will drive the development of digital trade infrastructure.
The foundation added that this initiative builds on a recent collaboration agreement for the establishment of the TLIP organization, announced at WTO MC13.
IOTA is a permissionless distributed ledger "for a new economy." IOTA aims to support the growth of a machine economy by enabling "fee-less machine-to-machine payments," offering greater scalability than blockchain networks. IOTA is trading at $0.2961, up by 1% in the last 24 hours.
