The Iota Foundation recently announced a strategic partnership with Fireblocks. The collaboration aims to optimize the real-world asset (RWA) tokenization process, given the growing institutional interest in this area. Tokenization means moving various assets such as real estate, commodities, and financial instruments onto the blockchain, thereby affecting their liquidity.
Iota is actively developing solutions and infrastructure to meet the growing demand for tokenization of real assets. The RWA market has grown significantly, with a valuation of $342 billion in September, according to VanEck Research.
Iota’s solution, called Shimmer Ethereum Virtual Machine (EVM), will be combined with the Fireblocks infrastructure. ShimmerEVM, designed as an Ethereum-compatible smart contract on the Shimmer blockchain, is a testing and development environment. Integration with Fireblocks will allow customers to store tokenized assets on ShimmerEVM. Additionally, they can initiate on-chain transactions directly through the Fireblocks console and API system.
Fireblocks is known for its direct cryptocurrency custody solutions and serves clients from renowned financial institutions such as BNY Mellon and BNP Paribas.
