The open-source blockchain developer Iota announced on Nov. 29 that it is launching a foundation, the Iota Ecosystem DLT Foundation, based in Abu Dhabi, to focus on the growth of its distributed ledger technology (DLT) in the Middle East region.
According to the announcement, the new foundation will be supported by $100 million in Iota digital tokens, which will be vested throughout the course of the next four years.