The Iota Foundation recently announced a strategic partnership with Fireblocks. The collaboration aims to optimize the tokenization process of real-world asset (RWA), given the growing institutional interest in this area. Tokenization means moving various assets such as real estate, commodities and financial instruments to the blockchain, affecting their liquidity.
Iota is actively developing solutions and infrastructure to meet the growing demand for real asset tokenization. According to VanEck Research, the RWA market has grown significantly, reaching a valuation of $342 billion in September.
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 test and development environment. Integration with Fireblocks allows 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 instant cryptocurrency custody solutions, serving clients of renowned financial institutions such as BNY Mellon and BNP Paribas.