IOTA Deepens Collaboration with Singapore Banks and Regulators via DAA Membership

• IOTA has joined the Singapore Digital Assets Association to strengthen ties with banks, regulators, and blockchain firms.
• The partnership supports IOTA’s goal to expand the use of its technology in trade, finance, and secure data sharing.

IOTA has joined the Digital Assets Association (DAA) in Singapore, a move that signals its growing interest in building stronger ties with local banks, regulators, and crypto players.

The announcement was shared by kowei.iota on X earlier today, with a photo showing IOTA alongside other new DAA members.

Singapore’s Blockchain Environment Welcomes IOTA

According to the latest update, IOTA has officially become a member of the DAA, joining the ranks of companies such as Crypto.com, Chainalysis, Blockchain.com, Kiln, Rakkar, and the law firm Gibson Dunn.

This new group of members reflects the direction the Singapore crypto scene is heading. The country is moving towards better coordination between technology providers and financial oversight bodies.

It is worth mentioning that Singapore has become a key destination for blockchain companies. In previous years, the country attracted over $627 million in crypto-related investment. The Monetary Authority of Singapore (MAS) has also been active. The apex financial regulator had handed out in-principle approvals to 19 digital payment token firms as of January 2024.

Image Source: Kowei on X

More recently, as noted in our report, MAS requested that crypto firms serving only foreign clients shut down their operations by the end of June 2025. This suggests that Singapore is striving to maintain security in the space while accommodating significant players, such as IOTA.

IOTA’s system, known as the Tangle, is recognized for its feeless and fast transactions. It is well-suited for supply chain tracking and smart devices that require quick and secure data exchange.

These features could prove particularly helpful in Singapore, where trade and logistics are significant components of the economy. IOTA is already involved in a project called the Trade Worldwide Information Network, which is designed to enable businesses to share data securely in real-time.

Beyond its partnership in Singapore, CNF reported that IOTA has become the only cryptocurrency named in an official Chinese government document, issued by the city of Kashgar.

Also, as highlighted in our previous news brief, IOTA Notarization has been officially unveiled. This will be used to complement traditional systems in addressing document-related fraud that organizations face.

Implications for Banks, Regulation, and the Industry

IOTA’s goal is to work more closely with Singapore’s financial system. In the X post, it mentioned plans to attend key events and have more explicit conversations with banks and government agencies.

This includes groups like DBS Bank, which launched its crypto exchange in 2023, as well as other DAA members that focus on compliance.

Firms such as Chainalysis and Gibson Dunn are also part of the DAA, indicating a shared interest in meeting legal and security standards. IOTA’s membership gives it a seat at the table as Singapore continues shaping its approach to digital assets.

Meanwhile, CNF reported that IOTA has released an updated Whitepaper for its Trade and Logistics Information Network (TWIN). Notably, the paper outlines a new framework designed to enhance global trade. This is valued at over $ 33 trillion annually and is tracked and verified.

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