World’s Largest Fintech Hub Partners with IOTA

IOTA Foundation and LATTICE80 open innovation laboratory in Singapore
28 November 2017   146819

Germany-based IOTA Foundation and LATTICE80, the world’s largest fintech hub with headquarters in Singapore plan to open an innovation lab with the Germany-based IOTA Foundation.

The companies have signed a memorandum of understanding in November to consolidate their mutual commitments.

The goal of the innovation lab will be to explore mutual interests between ecosystems and run joint initiatives on blockchain technology, cryptocurrency and IOT.  The IOTA Foundation and LATTICE80 will run independent and joint activities to study these technologies to the community through meetups, demo days, IOTA Lab sessions, and more.

IOTA is a global leader, advocate, and evangelist of these new technologies. We are happy to partner with IOTA to develop joint venture projects under a new innovation lab, and look forward to partnering with even more fintech startups as we grow internationally.

 

Joe Seunghyun Cho

Founding CEO, LATTICE80

IOTA has already designed their Blockchain technology, called IOTA Tangle, which is considered to be an innovative type of DLT specifically for the IoT environment. It is an open-source protocol facilitating Machine-to-Machine interactions, including secure data transfer, fee-less real-time micro-payments, and the collection and dissemination of sensor-based and other types of ‘oracle’ and other data.

Recently, one of the largest cryptoexchanges in South Korea, Coinone, made an announcement stating that it will add support for IOTA on November 28 of 2017 and build a partnership with IOTA foundation.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   39

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.
 

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.