According to a press release shared with TimesTabloid, IOTA Foundation, the not-for-profit organization driving the development of an open, feeless, and highly scalable distributed ledger technology (DLT) for Web3 applications and digital economies, has partnered with the Crypto Finance Group to Support the Shimmer Network Token.
IOTA Partners With Crypto Finance Group
Following the successful launch of its incentivized staging network – the Shimmer Network – the IOTA Foundation is announcing that Crypto Finance Group will be the first to offer both trading and safekeeping for the $SMR token. It will be the first prudentially regulated custody and brokerage provider supporting the native token of the Shimmer network.
Crypto Finance Group, the Swiss-based storage provider, is a long-standing partner of the IOTA Foundation as they were the first worldwide storage provider for the original IOTA token.
This partnership will enable investors from private and institutional sectors to trade and store $SMR tokens in a regulatory-compliant manner, as Crypto Finance Group is a FINMA-regulated service provider and part of Deutsche Börse Group. The partnership will play a huge role in driving innovation and adoption of the Shimmer network.
Reacting to the new development, Dominik Schiener, Co-Founder of the IOTA Foundation, said:
“Our relationship with Crypto Finance Group continues to drive innovation and adoption. We welcome their decision to trade and store SMR – the tremendous expansion of projects and token holders since Shimmer’s launch in October shows the market’s confidence in the token and the network’s possibilities. We believe that this integration will enable seamless, regulatory-compliant, and safe access for institutional and private investors alike.”