IOTA has announced that it is expanding its footprint in Abu Dhabi, UAE, by launching an establishment in the region. It has been stated that the new office will comply with the relevant regulations and support the technological initiatives of the authorities. Moreover, IOTA has committed to accelerating the growth and adoption of technology.
It finds that the environment of Abu Dhabi is more than suited for its purposes. This is to the extent that IOTA will make it its headquarters, which will act as a central hub for its global operations. More pieces of information are yet to be shared. This includes information about governance, entity, and structure.
Calling this a new chapter, IOTA has said that it is looking to match the technology with the support that only select places can provide. We are convinced, stated IOTA in the announcement before confirming that the environment in Abu Dhabi will definitely support its global ambitions.
Moving forward, IOTA will work to empower a new era of technology. It has been said that the venture will closely work with regulators, government entities, and business leaders to make sure that the UAE becomes a global leader in business and technology. The growth notably highlights the commitment of IOTA to expand its operations beyond a specific region. It further highlights the intention of supporting the crypto community in the UAE.
Dominik Schiener has said that they have experienced a warm welcome since the beginning of the operations. He is the Chairman of the IOTA Foundation, and he has also acknowledged that they have received a lot of support from businesses, regulators, and leaders. This can-do mentality, added Dominik, is what makes the environment perfect for companies to operate their platforms. Dominik has expressed excitement about helping to establish their operation in the UAE while making it a hub for technological innovations.
A dedicated board of directors will work collectively to offer IOTA funding and support its requirements to grow the ecosystem. IOTA will adopt an inclusive approach by enabling members to form communities based on collective wisdom and talent from diversified backgrounds.
This marks a significant chapter, said IOTA in the announcement, adding that they are now officially venturing into the market of the UAE. They are now tasked with building a DLT ecosystem and working with institutions to make sure that they do not miss any opportunity or chance to make the UAE a global hub for technology and innovation.
While IOTA is moving its feet to Abu Dhabi, the community cannot simply confuse it with the fact that it still wants to grow across the world. It will offer its services to the native region but also leverage the benefits of having a central office while sharing its services everywhere.
The community is now anticipating information about governance, structure, and entity type.