IOTX, the native token of IoTeX, rose slightly on Jan. 14 as the decentralized physical infrastructure network platform announced a major partnership with enterprise blockchain firm Fireblocks.
As the broader crypto market joined risk assets in moving higher after latest U.S. economic data, IoTeX (IOTX) token jumped more than 5% to intraday highs of $0.036. IOTX saw these gains as the DePIN project announced its integration with Fireblocks, an enterprise platform for digital assets management on the blockchain.
Earlier in the day, IOTX had hit its lowest price since Dec. 20, 2024.
Potential profit taking may therefore curtail immediate upside momentum. However, the news proved positive for IOTX as integration with Fireblocks allows IoTeX to bring its native IOTX token and other IoTeX-based assets to enterprises and institutional investors across the world.
“By utilizing Fireblocks, we are bringing institutional-grade security and accessibility to IoTeX’s ecosystem, enabling new liquidity channels and adoption for our tokens. This further underscores our commitment to bridging the worlds of blockchain and real-world DePIN applications. Raullen Chai, chief executive officer and co-founder of IoTeX, noted.
The partnership opens up opportunities for enterprises looking to explore the tokenized decentralized physical infrastructure network data market. According to IoTeX, this includes adoption of machine-based real-world assets and decentralized applications on its platform.
The collaboration with Fireblocks is expected to boost network liquidity and enhance institutional adoption of IoTeX’s native token and other ecosystem assets. Key users who can benefit from this integration include custodians, funds, and exchanges looking to leverage the IoTeX and Fireblocks solutions on the DePIN platform.
