- IOTA has collaborated with crypto storage infrastructure provider Crypto Storage AG
- The announcement was made by Cara Harbor, head of communication at IOTA
- A major development for the IOTA Foundation
According to a Medium post by Cara Harbor, published on January 9, 2019, the IOTA Foundation has partnered with crypto storage AG, a subsidiary of crypto finance AG. The partnership will offer the first institutional-grade IOTA token storage infrastructure solution.
World’s First Institutional-grade IOTA Token Storage Offering
IOTA has been successful in carving a niche for itself from other blockchain-based projects, courtesy of the Tangle. The Tangle is a permissionless, zero fee distributed ledger. It focuses on the emerging market for Internet of Things (IoT) and aims to be the torch-bearing protocol for the same.
In a bid to tighten security and for IOTA’s industry partners and users, the IOTA Foundation has collaborated with crypto storage AG.
The storage solution offering will help fulfill the needs of various financial intermediaries and the industrial partners of IOTA working across various business lines. The allegiance between the two entities will provide top-notch storage solutions to private and public investors with considerable MIOTA token holdings.
Stijn Vander Straeten, CEO of Crypto Storage AG, shared his thoughts regarding the newly christened partnership. He said:
“Crypto Storage AG is proud to support the IOTA platform with our top-tier infrastructure, as we see rising demand with our clients and IOTA’s industry partners to enable the IOTA token without compromising on security.”
The allegiance could prove to be mutually beneficial for both the parties. While IOTA’s strategic partnerships will now have access to top-notch cryptocurrency storage solutions to meet their institutional and compliance requirements, crypto storage AG clients can also enable their business model with IOTA investments.
David Sønstebø, co-founder and co-chair of IOTA Foundation said:
“Keeping data secure with infrastructure from Crypto Storage AG will contribute to the development of these concepts and the IOTA Foundation’s vision of supporting a machine-to-machine economy.”
IOTA Looking to Blaze the Trail in 2019
While 2018 was nothing short of monumental for the IOTA Foundation, the organization is looking to outdo itself in 2019.
The project has already had a strong start to the year. On January 1, 2019, BlockchainReporter informed how Bosch launched XDK2MAM to bridge with IOTA.
Talking about previous year achievements, IOTA has no dearth of developments to boast about.
On December 15, 2018, reports emerged that IOTA Foundation has partnered with NEXT Biometrics to develop identity management solutions.
2019 could prove to be a stellar year for the project, especially after it was revealed on December 14, 2018, how the collaboration between Audi and IOTA successfully “pushed new use cases to reality.”