IOTA Foundation announced a partnership with Norwegian financial services group DNB ASA to examine ways of introducing new technologies and processes, which are based on the Tangle.

DNB ASA, the largest financial services company in Norway by market capitalization. It is one of the global leaders in banking services of shipping, marine fisheries and energy.

“The Internet of things (IoT), machine-machine interaction (M2M) and payments for microservices, as it seems, will only expand in the future. We believe that the use of technology based on a distributed registry, such as IOTA, will give us valuable experience and know-how for future business models and cash flows. We look forward to the opportunity to take in space IOTA”, — commented on the partnership, Director of DNB on DLT technology , Maholm Lasse (Lasse Meholm).

For the Norwegian company is not the first experience of development and implementation of solutions based on the technology of the distributed registry. In the autumn of last year, DNB has joined the development project of the DLT platform for cross-border payments based on Corda startup R3.

“Norway has always been at the forefront of the ultra-modern technological changes of the paradigms that increase the efficiency of our society. I’m very happy for IOTA Foundation, which supports this tradition by promoting payments using DLT-technology and IoT together with the largest financial institution in the country,” said one of the founders of IOTA Foundation David Sonstebo (David Sønstebø).