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IOTA Ecosystem DLT Foundation Commits $10M to Early-Stage Startups

Twitter icon  •  Published il y a 1 mois  •  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 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. 

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.