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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