IOTA, a distributed ledger technology platform designed to connect people and devices for sharing information and value, today made two major announcements.
- First, is the release of its framework for tokenizing assets on the Tangle, IOTA’s native protocol.
- Secondly, IOTA is also announcing a partnership with digital asset security firm Curv, which will vastly extend the usability of IOTA’s Digital Assets.
Bringing tokenization to the IOTA protocol means that the economic potential of tokenized assets will now be available for use with IOTA’s fee-less, lightweight, and highly scalable architecture. This opens up a myriad of possibilities within crypto communities, including, for example, cross-currency exchanges that are hosted on IOTA’s Tangle.
- Supercharge investment economies: Tokenizing traditional financial securities can open investment opportunities to more people. Additionally, the process of tokenization allows for a larger number of assets to be traded on exchanges
- Non-Fungible Tokens (NFT): Non-fungible goods and services can be tokenized, allowing anyone to attach a unique piece of intellectual property to a tradeable asset, for example, artists can monetize their work.
- Value utilities: Concert tickets, gift certificates, rewards points, or any similar type of value utility could be more easily and more securely managed as tokenized assets on distributed ledgers.
The partnership with Curv extends the functionality of IOTA’s Digital Assets even further by providing a trusted third party to secure tokenized assets at an industrial scale. This allows the IOTA protocol to be leveraged in any number of enterprise use-cases where regulatory demands, compliance, and other legal frameworks had previously been a hindrance. Additionally, Curv will provide the technical support needed for custody platforms in these cases.