IOTA aims to boost RWA and DeFi with major program in Singapore

The $IOTA Foundation has unveiled a key program aimed at advancing the real-world asset (RWA) tokenization ecosystem on $IOTA. The 12-week accelerator is a collaboration with early-stage venture capital firm Tenity and will offer grants and other resources for early-stage projects in the areas of RWA, decentralized finance (DeFi), DeFi institutional services and infrastructure.

The $IOTA Ecosystem DLT Foundation announces that the $IOTA APAC Accelerator program will provide a $50,000 grant to selected projects. Projects will have a demo day at Token2049. These startups will use $IOTA EVM technology, as per the details in the blog post. Dominik SCHIENER said the $IOTA Foundation sees Singapore as “the ideal venue” for the program. According to $IOTA, the APAC accelerator is planned for June-September 2024.

Last December, the $IOTA Foundation took an important step in promoting further adoption of the $IOTA network. This came in the form of the first registration of distributed ledger technology (DLT) in Abu Dhabi. This news led to an increase in the price of $IOTA, as the cryptocurrency became one of the most profitable at the time of ADGM registration. The $IOTA Foundation has announced a $100 mln funding program aimed at the ecosystem. With the latest partnership, the $IOTA Foundation aims to make inroads into the RWA space. Market experts say that innovation in this ecosystem could be a major driver of price increases for related tokens.

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