Iota

Iota's ShimmerEVM joins Fireblocks, targets demand for assets tokenization

The Iota Foundation wants to capitalize on institutional demand for real-world assets tokenization, which reached $342 billion in September, according to VanEck data.

Open-source blockchain developer Iota has taken another step to meet institutional demand for asset tokenization by integrating its Shimmer EVM-compatible chain with Fireblocks.

Data from VanEck Research shows the total market capitalization for tokenized real-world assets (RWA) reached $342 billion in September, despite the bear market and the crypto industry headwinds. According to Dominik Schiener, co-founder of Iota, the network is building infrastructure and solutions to address the escalating demand for RWA tokenization.

“We can expect many large institutional investors and financial institutions to give their public support for digital assets in 2024. With clear regulations and newfound public support through these institutions and the imminent ETFs, we are well on our way to make institutional investors the dominant market participants,” noted Schiener.

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Iota’s ShimmerEVM joins Fireblocks, targets demand for assets tokenization

The Iota Foundation wants to capitalize on institutional demand for real-world asset tokenization, which reached $342 billion in September.

Open-source blockchain developer Iota has taken another step to meet institutional demand for asset tokenization by integrating its Shimmer Ethereum Virtual Machine (EVM)-compatible chain with Fireblocks.

Data from VanEck Research shows the total market capitalization for tokenized real-world assets (RWA) reached $342 billion in September despite the bear market and the crypto industry’s headwinds. According to Dominik Schiener, co-founder of Iota, the network is building infrastructure and solutions to address the escalating demand for real-world asset (RWA) tokenization.

“We can expect many large institutional investors and financial institutions to give their public support for digital assets in 2024. With clear regulations and newfound public support through these institutions and the imminent ETFs, we are well on our way to make institutional investors the dominant market participants,” noted Schiener.

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Crypto Biz: UAE’s regulatory structure draws crypto firms, Canaan’s revenue slumps, and more

The United Arab Emirates increasingly attracts Web3 companies to its jurisdictions, becoming the center of global crypto innovation.

Behind the wave of companies moving or deploying initiatives in the UAE is regulation. The country has introduced regulatory frameworks for decentralized autonomous organizations (DAOs), virtual asset providers, metaverses and other Web3-related entities.

By offering regulatory clarity and a clear path to compliance — amid a crackdown in the United States — the UAE is moving closer to fulfilling what it wants to be: an international financial hub for digital assets.

While predictions about how it will affect the future of the UAE or the crypto space itself vary, history shows how countries have used regulatory gaps to build new industries or curb existing ones.

This week’s Crypto Biz also explores Canaan’s revenue challenges, Wormhole’s massive fundraising and Banco Santander’s crypto moves.

Iota launches $100 million Abu Dhabi foundation for Middle East expansion

Open-source blockchain developer Iota announced the launch of the Iota Ecosystem DLT Foundation in Abu Dhabi, which is dedicated to expanding its distributed ledger technology (DLT) in the Middle East.

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IOTA makes 40%+ move after $100M ecosystem foundation announcement

IOTA price saw a high volume surge that took the altcoin to a near one-year high, but are there reasons to support further upside?

Iota, an open-source distributed ledger focused on the Internet of Things (IoT), saw its native IOTA token rally 43% on Nov.

According to a press release from the project, the foundation will be seeded with $100 million in IOTA tokens, which will be vested over a four-year period.

Historically, ecosystem and developer incentives by blockchain and DeFi protocols tend to attract liquidity to the project and boost market participants’ sentiment.

In August 2021, Avalanche’s AVAX (AVAX) token went on a 1,400% tear after the announcement of the Avalanche Rush decentralized finance (DeFi) incentive program.

A similar outcome was seen with Trader Joe’s JOE token in the months following December 2022 after the DeFi protocol announced plans to establish a presence on Arbitrum.

Currently, the Arbitrum ecosystem is hosting liquidity and developer incentives, and these initiatives align with the recent 62% resurgence in the ARB token’s price.

Was IOTA’s price move another sell-the-news event?

On Nov.

Traders often interpret funding rates and longs-to-shorts ratios as sentiment gauges and indicators of how active investors are positioned.

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Iota Foundation joins Dell to develop real-time carbon footprint tracking

The Iota Foundation joined Dell alongside ClimateCHECK and BioE to fight climate change using real-time carbon footprint data.

Iota Foundation, a nonprofit distributed ledger technology ecosystem provider, has partnered with tech giant Dell Technologies to develop a data-driven solution for the real-time tracking of carbon footprints. 

Dell’s edge solutions team announced the onboarding of Iota, climate change-focused technology company ClimateCHECK and BioE to develop a solution on top of Dell’s in-house Data Confidence Fabric (DCF) and Project Alvarium initiatives.

Iota has been an active participant in Project Alvarium, which Dell first conceptualized in 2019 to utilize vetted data from the DCF, or “trust fabric,” across heterogeneous systems. Mathew Yarger, head of sustainability at the Iota Foundation, stated:

“Transparency and trust in data is paramount for addressing the global issues of climate change and transitioning to climate action.”

Sharing details about the initiative, Yarger explained that the four companies developed an integrated digital measurement, reporting and verification (MRV) tool.

In conjunction with Project Alvarium, the digital MRV can pick up data from sensors and manual input and process it through Dell PowerEdge servers to ultimately deliver near-real-time insights into the carbon footprints of BioE’s sustainable energy and composting facility. Yarger added:

“We’re now able to track and verify data around climate change and how we’re actively trying to address it at a level that’s never been achieved before.”

Meanwhile, KenGen, a Kenya-based energy company, recently invited Bitcoin (BTC) miners to run their operations using its renewable power capacity.

As Cointelegraph reported, KenGen generates 86% of its energy through renewable geothermal sources. Local reports suggest that KenGen plans to rent out space from its Olkaria facility, situated at a volcanic site.

The acting director of geothermal development at KenGen, Peketsa Mwangi, confirmed the company’s intent to host Bitcoin miners in Kenya:

“We’ll have them here because we have the space and the power is near, which helps with stability.”