IOTA has officially announced a partnership with DNB ASA – the largest bank in Norway. The financial institution is exploring the potential benefits that Tangle (the distributed ledger tech of IOTA) can bring to the table. The IOTA Foundation and community are excited about this partnership, as strategic partnerships are extremely important and needed along the path to mainstream adoption of digital currencies.
DNB – The Largest Financial Institution in Norway
DNB is a Norway-based financial company, and it is the largest in the country, with total managed assets of over NOK 1.9 trillion. The firm specializes in corporate banking, investment banking, and global markets, offering a variety of services including loans, advisory services, pension products for corporate and retail customers, savings, and insurance.
IOTA Price Today: Current Price of MIOTA
IOTA is presently holding the number 9th position on the list of top digital currencies in the world, and the currency is trading at $1.28 – which has been its value for the past twenty-four hours. The coin has a market cap of $3.55 billion and a trading volume of $83.80 million in the last twenty-four hours.
The Tangle Network of IOTA
Tangle is the first distributed ledger (DT) being designed specifically with IoT in mind. The open source ledger of IOTA allows for feeless p2p micro-transactions and the interconnectedness of machines.
Lasse Meholm’s Comment
The Head of Distributed Ledger Tech (DLT) at DNB – Lasse Meholm said: “As Machine to Machine (M2M) and Internet of Things (IoT) payment and communication for microservices seem to intensify in the future, they think engaging in a Blockchain-based technology such as IOTA gives them the know-how and valuable experience on future business models and revenue streams.”
About two weeks ago, the crypto firm partnered with the UN. The United Nations wants to use the technology of IOTA to cut down on intermediary expenses. The most recent partnerships of IOTA with the United Nations alongside the Norwegian Bank is well received amongst the IOTA community, and this could have a positive effect on the value of the coin.