Famed DAG project IOTA has inked a deal with Den Norske Bank (DNB) to explore potential use cases for the company’s Tangle technology. Wilfried Pimenta, IOTA Foundation’s Business Development Head, announced the partnership in a post on the company’s blog. DNB is the largest bank in Norway and ranks as one of the most prominent financial institutions in the Nordic region.
Den Norske Bank is no Stranger to DLT and Blockchain Technology
DNB is no stranger to the world of decentralized ledger technology. Before partnering with IOTA, the bank previously engaged in numerous collaborative efforts with a slew of blockchain-based firms including R3, Hyperledger, EOS, and Ethereum. Speaking on the MoU (memorandum of understanding) with IOTA, Lasse Meholm, the Head of the DLT division at the bank, said: