- IOTA is the new partner of Stand With Crypto EU.
- The partnership is intended to strengthen IOTA’s focus on trading, TWIN and regulation.
IOTA has become an official partner of Stand With Crypto EU. The lobby group welcomed the network as a new partner on March 17, highlighting IOTA’s work in the areas of digital identity, tokenization, trusted data and global supply chains. Stand With Crypto EU wrote:
“We are pleased to welcome IOTA as an official partner of Stand With Crypto EU. IOTA is an open source DLT network that brings real-world infrastructure on-chain – from digital identity and tokenization to trusted data for global trade and supply chains. For almost a decade, IOTA has been working with companies, governments and international institutions on blockchain solutions for secure data exchange, transparent supply chains and more efficient cross-border trade.”
IOTA itself described the step as important for institutional adoption. The project explained:
“The addition of IOTA is a strong step forward for institutional adoption. As IOTA leads the way in digital trade logistics, this partnership creates the appropriate regulatory path to bring global trade players on board.”
The partnership fits into a number of recent developments surrounding IOTA in the European context. The focus is above all else TWINthe “Trade Worldwide Information Network”. The network is intended to map trade data, documents and supply chain processes digitally and across borders. IOTA recently emphasized that TWIN is now running on the mainnet and is being used in several international trading initiatives.
How CNF reportedIOTA referred to tests in the British trading environment at the beginning of February, in which TWIN was linked to government information systems. According to the project, relevant supply chain data was able to reach the responsible authorities much earlier. IOTA also stated that more than 2,000 poultry deliveries from Poland to Great Britain have already been tracked on IOTA via TWIN.
IOTA has also recently been seeking closer political proximity to regulation. The foundation hired in February Expert Advisory Board for TWIN with a focus on the British trading context. Also in February took part IOTA together with other crypto organizations in a statement to the British financial regulator FCA on questions of regulation of blockchain infrastructure.
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