IOTA is the best performing top 100 cryptocurrency of the past 24 hours, gaining 45% in a single day after the project announced the launch of a new foundation as part of a pivot to focus on real-world assets.
On Nov. 29, Iota announced its newly launched IOTA Ecosystem DLT Foundation had become the first distributed ledger technology (DLT) foundation registered by the Abu Dhabi Global Market (ADGM) — the capital city of the United Arab Emirates (UAE).
Iota seeded the new foundation with $100M vested over four years, with the new entity tasked with bridging the gap between DLT and real-world assets (RWAs) in the Middle East and North Africa (MENA) region.
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