- IOTA has partnered with BitGo, expanding its presence in the United States.
- The move comes as IOTA celebrates its 10-year milestone.
- BitGo now supports the IOTA token and will integrate IOTA Mainnet support.
As IOTA, a prominent open-source distributed ledger, celebrates a decade of innovation in the blockchain space, the company is marking a significant milestone. As per the latest report, IOTA is expanding its hold in the US through a strategic collaboration with BitGo.
This pivotal partnership will enable BitGo to integrate IOTA Mainnet support, empowering institutions to manage IOTA tokens securely and efficiently. This move also highlights the blockchain platform’s commitment to its vision of expansion and growth, delivering scalable, secure, and reliable solutions that address growing institutional demand in the digital asset space.
IOTA Unlocks New Opportunities for US Clients
Earlier today, IOTA shared its latest update on X, formerly Twitter, as part of its 10-year milestone. According to the X post, the company has partnered with BitGo, a leading digital asset infrastructure company. The thread read,
“IOTA is expanding in the U.S. As we mark 10 years of IOTA, we’re partnering with BitGo, one of America’s most trusted digital-asset custodians. Starting now, BitGo will add IOTA Mainnet support, giving U.S. institutions a regulated, insured, and compliant way to hold and trade IOTA.”
With this partnership, the IOTA token is now supported by BitGo, enhancing institutional access to the cryptocurrency. As noted by BitGo, its regulated infrastructure would enable investors to hold, manage, and leverage IOTA tokens securely.
The platform will also add IOTA Mainnet support in early December, empowering clients to manage IOTA tokens alongside other assets on BitGo. As per the platform’s statement, BitGo currently offers support for over 1,550 tokens and coins across more than 4,900 global institutions. It also offers a wide range of services, including custody, wallets, staking, and trading. Thus, IOTA’s collaboration with BitGo could be seen as a commitment to addressing growing institutional demand through a regulated partner.
How BitGo’s Support Helps IOTA?
Significantly, BitGo’s support opens a wide range of opportunities for the IOTA network. Institutions and exchanges can now securely access IOTA through a regulated, insured, and compliant framework, enabling them to operate with confidence.
BitGo’s infrastructure also supports exchanges in offering IOTA to their clients, while market makers gain operational flexibility and access to high-touch trading.
Furthermore, US participants can now access IOTA in a compliant manner. Also, the move allows users to trade, lend, borrow, and do other programmable money use cases.
In addition, the collaboration and BitGo’s IOTA Mainnet support provide a compliant space for US clients, attracting more users to the blockchain space. This aligns with IOTA’s vision of global expansion and adoption, providing investors across the world with IOTA token access.
IOTA Token Price Exhibits Bullish Signals
Despite the IOTA blockchain’s increased efforts to solidify its position in the DeFi space via strategic collaborations and integrations, the IOTA token has been facing notable downward pressure over the past few weeks.
However, the latest collaboration with BitGo has sparked a renewed interest in the cryptocurrency, with the token exhibiting positive momentum. As of press time, IOTA is trading at $0.1030, up by a marginal 0.4% in a day. But the crypto is still down by 11% and 19% over the past week and month, respectively.
