IOTA Foundation announced a strategic partnership with Curv Custody with a focus on expanding the IOTA token ecosystem. With Chrysalis launch on the horizon, IOTA Foundation plans to find new partners to extend its offerings and user-base.
The latest partnership with Curv Custody makes it possible for IOTA Foundation to provide IOTA tokens in an asset custody platform. It will surely help the community find more users and use-cases. Curv users will benefit from this partnership because of the ability to accept the IOTA token as custody.
More DeFi Use-Cases for IOTA
The road to Defi is somehow inevitable for blockchain projects. IOTA wants to have a role in this new world, too. With major upgrades, Chrysalis and Coordicide, many new use-cases will be available for the IOTA community. The IOTA Foundation wants to increase these opportunities by starting new partnerships. Offering the IOTA token to as many users as possible is an excellent choice for expanding the ecosystem. With the new collaboration with Curv Custody, IOTA will find more users who were looking for an alternative custody option.
Curv will be the first custody platform to support the IOTA token. Any application that uses Curv for providing custody options will be able to support the IOTA token. It means decentralized exchanges and DeFi platforms like Celsius, Stakehound, Staked.Us, and Genesis Trading will support IOTA.
Decentralized finance or DeFi has experienced a significant growth in the past months. Users can benefit from multiple financial services with these platforms without the need to rely on intermediaries. Some of the essential components in this new ecosystem are digital asset custodians. The security of managing digital assets in a scalable way is possible because of these custodians. When a new token becomes available as custody, it means holders can benefit from using it as custodian and receiving various financial services.
The latest partnership with Curv finance surely means a lot to the community. Especially, IOTA holders will find numerous opportunities to use their tokens and even earn more from them. IOTA Foundation describes one of the reasons that this partnership will help the community for sure:
“There are many products and services that require the use of a custody solution in order to support a digital asset. Up until now, the IOTA token could not be added to a number of partner platforms, industrial use cases, and popular decentralized finance (DeFi) applications because they all required a custody solution with IOTA support.”