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- The IOTA Foundation was selected for the Tradetheech Regulatory Sandbox, a collaboration between the World Economic Forum, the UAE Ministry of Economy and added.
- Iota announced that the Iota launch won, placing it among several blocks for 1 block that supports the move programming program.
The IOTA Foundation has been selected to be a part of the well-known trade regulatory box for the regulatory box organized by the World Economic Forum, the UAE Ministry of Economy and Abu Dhabi Economic Development (added). The initiative focuses on several key use cases within trade finance that include your customer know-how (KYC) processes and digital identity.
🌐 #iota is part of the selected organizations for the TRADETETH Regulatory Box, hosted by @Wef, Ministry of Economy, UAE and Abu Dhabi Department of Economic Development (added) 🇦🇪! We are excited to participate in a used case focusing on KYC and digital identity …
— Iota (@ita) January 27, 2025
The Iota Foundation makes a big breakthrough in the UAE
The foundation announced its participation at X: “Iota is part of the select organizations for the Tradetech regulatory chest … We are excited to participate in the use case for KYC and digital identity for trade finance.” The results of this project will be presented during the plenary session at the TRADTETECH Forum 2025 in Abu Dhabi, scheduled for April 8. Registration for the forum is now open. “
For context, the Tradetech Forum 2025 will bring together industry leaders from around the world who are shaping the trade, technology and investment sectors. Building on previous successful events, it will include discussions on innovative trade advances, networking and exclusive insights from industry leaders.
However, despite this achievement, the price of the iota token has fallen over 10% today as the crypto market has remained volatile. At the time of writing, the price of Iota has collapsed 10.80% to $0.2956 on Monday, January 27, 2025. Furthermore, the market cap also fell to $1.06 billion. Regardless, market interest in Iota Token remains as trading volume has increased 113.62% to $68.91 million in the last 24 hours. This could be hinted at in the upcoming recovery once the market stabilizes.
A look at the Iota Rebased Mainnet launch
Amid these developments in the IoTa ecosystem, the organization announced the launch of IOTA Stores, as highlighted in our previous article. This places Iota among only three production Layer 1 Blockchains Natively supporting move programming. According to Dominik Schien, co-founder at the Iota Foundation, “remember what’s coming. Iota will be the third L1 production to support the move “through X.
After the community passed the IOTA protocol update in December 2024, the Foundation launched two different test environments: a public test test and a devtenat. Frameworks are there to ensure stability, security and functionality before a defeated protocol is released into the main network.
The public testNet is designed for continuous testing of applications and protocol upgrades. Unlike older versions, this environment operates without periodic resets, supporting long-term testing and incremental upgrades before deployment. Users can explore the network through the updated IoTa Explorer, claim tokens through a faucet, and access the Iota Wallet browser extension.
In contrast, Devnet is a controlled experimental platform used to test new features of a protocol under development. A periodic reset ensures that the network can accommodate upgrades without hassle. Developers can test changes using data from the iota mainnet ledger.
Both test environments are now live, encouraging developers, validators and users to interact with the rebel protocol. They are welcome to provide feedback as a foundation for the launch of the mainnet.
