- IOTA establishes an independent, regulated foundation in Abu Dhabi, UAE, to support global growth and adoption.
- The move aligns with IOTA’s mission to decentralize governance and become a fundamental digital infrastructure.
In a strategic move aimed at global expansion, IOTA recently announced its intention to establish an independent, regulated foundation in Abu Dhabi, United Arab Emirates (UAE). This development underscores IOTA’s commitment to the region and its aspirations to expand its global influence. The new entity is poised to play a pivotal role in promoting IOTA’s global growth, adoption, and expansion. IOTA recognizes the strategic advantages offered by the UAE and believes that this location provides the ideal environment to support its worldwide ambitions.
The decision to establish an additional headquarters in Abu Dhabi aligns with IOTA’s mission to further decentralize its governance. IOTA aims to become an impartial, open, permissionless, and globally distributed digital infrastructure. This move towards decentralization reaffirms IOTA’s vision of becoming a fundamental digital infrastructure for future society and the economy.
Pioneering Collaboration and Oversight
As IOTA solidifies its presence in the UAE, it aspires to be a leading distributed ledger technology (DLT) entity in the region. With a commitment to operating under the new regulatory framework, IOTA is eager to collaborate with UAE’s regulators, business leaders, and government bodies. This not only highlights the country’s global standing in technology and business but also underscores IOTA’s dedication to robust oversight and structured processes, benefiting the local and international crypto community.
Dominik Schiener, Chairman of the IOTA Foundation, commended Abu Dhabi’s supportive stance and visionary leadership. He emphasized the conducive and proactive environment the country provides, which aligns perfectly with IOTA’s aspirations.
The foundation in Abu Dhabi will be governed by a dedicated board of directors and is poised to provide crucial funding and support to the growing IOTA ecosystem. By encouraging community participation in the formation of committees, the new foundation ensures that the diverse talents within the IOTA community play a central role in shaping the project’s technology and governance.