IOTA Deepens Ties with Singapore Banks and Regulators
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IOTA has joined the Singapore Digital Assets Association to strengthen ties with banks, regulators, and blockchain firms. The partnership supports IOTA’s goal to expand the use of its technology in trade, finance, and secure data sharing. IOTA has joined the Digital Assets Association (DAA) in Singapore, a move that signals its growing interest in building stronger ties with local banks, regulators, and crypto players. The announcement was shared by kowei.iota on X earlier today, with a photo showing IOTA alongside other new DAA members. Singapore’s Blockchain Environment Welcomes IOTA According to the latest update, IOTA has officially become a member of the DAA, joining the ranks of companies such as Crypto.com, Chainalysis, Blockchain.com, Kiln, Rakkar, and the law firm Gibson Dunn. This new group of members reflects the direction the Singapore crypto scene is heading. The country is moving towards better coordination between technology providers and financial oversight bodies. It is worth mentioning that Singapore has become a key destination for blockchain companies. In previous years, the country attracted over $627 million in crypto-related investment. The Monetary Authority of Singapore (MAS) has also been active. The apex financial regulator had handed out in-principle approvals to 19 digital payment token firms as of January 2024. Image Source: Kowei on X More recently, as noted in our report, MAS requested that crypto firms serving only foreign clients shut down their operations by the end of June 2025. This suggests that Singapore is striving to maintain security in the space while accommodating significant players, such as IOTA. IOTA’s system, known as the Tangle, is recognized for its feeless and fast transactions. It is well-suited for supply chain tracking and smart devices that require quick and secure data exchange. These features could prove particularly helpful in Singapore, where trade and logistics are significant components…
Filed under: News - @ July 17, 2025 10:33 pm