A Difficult Past in the US Market
The relationship between IOTA and the United States market has historically been challenging. Previous IOTA founders often expressed negative sentiments towards major US crypto institutions, which contributed to a lack of presence and opportunities within the US. Despite consistent community demand for listings on US exchanges, this never materialized. The reasons cited included significant associated costs and a historically poor reputation that IOTA held in the States. There were very few significant meetings, hackathons, or engagement with large US institutions that actively promoted IOTA's presence in the US. One instance mentioned was an attempt to get $IOTA listed on Celsius Network, which ultimately fell through due to the company's bankruptcy.
A Strategic Pivot Towards the US
This situation began to change approximately a year ago, specifically around October 15, 2024. There was a noticeable shift in approach, with Dom becoming more open about traveling to New York for the end of November 2024. Although the specific purpose of these trips was not initially disclosed, there was a palpable sense of excitement regarding the opportunities. Further trips to New York were confirmed at the end of December, and Dom even expressed a desire to "move to New York, 2025" on Discord. By March 2025, additional confirmed trips to Washington, D.C., reinforced the notion that the US was becoming an integral part of IOTA's strategy. This strategic importance of the US became evident, though the community remained largely unaware of the specifics.
Hints and Developments in the US Market
Insights suggest that Dom's visits to Washington and New York were part of a broader US engagement strategy. While other relevant cities were also involved, New York and Washington held particular significance, although recent political shifts related to Trump may have influenced these considerations. The community then witnessed the "Kraken story," which, despite its eventual cancellation, signaled a potential easing of the stringent conditions for IOTA's presence in the US. Initially, a listing was announced by Kraken, only to be subsequently canceled, followed by reassurances that it was still forthcoming. While not a major development in itself, it indicated a less prohibitive stance from US exchanges.
Key Infrastructure and Strategic Partnerships
More recently, there have been significant developments pointing towards IOTA's increasing integration into the US market. Approximately two weeks prior to this writing, a hint was shared about IOTA being on track for integration with BitGo, a prominent custody provider in the US. BitGo's services are considered a prerequisite for listings on top-tier exchanges and represent essential infrastructure for operating within the US market. This news came as a surprise, reinforcing the pattern of unexpected positive developments regarding US market access.
Community Insights and Future Outlook
During a recent Token2049 event, a conversation with Dom provided further context. The discussion involved a review of past experiences and future development plans for IOTA. Dom's demeanor was described as friendly and down-to-earth, but he expressed significant enthusiasm for the United States. This was particularly impactful as IOTA had previously been perceived as primarily focused on the EU and Asia, with the US not being a central part of the strategy. Dom highlighted that IOTA and its related initiatives, such as TWIN, were not intended to be limited by geographical borders and that the US was a critical component of the overarching strategy. This revelation suggested a potential blind spot in the community's perception, as the US being a strategic focus was not widely anticipated.
The perception of IOTA's US market presence is evolving. While community members had received reassurances about efforts being made, the idea of the US being a core strategic element, relevant to TWIN, OROBO, SALUS, and Turing Cert, was not fully integrated into their outlook. The question of whether IOTA had secured an "entrance ticket" to the US market was a significant one.
Strong Indicators of Major US Exchange Listings
The return to Europe was accompanied by strong indications from community insiders that IOTA was on track for listings on major US exchanges, specifically Coinbase and Kraken. These insights, particularly from individuals known to have early information, suggested a real possibility of these listings. This was further corroborated by past instances, such as the Keystone Wallet leak, where similar insider information proved accurate.
Adding to this momentum, a significant development occurred with the appointment of @bondjanebond as the new Chief Marketing Officer (CMO) of the IOTA Foundation. Her recruitment from the United States, as an industry-recognized marketing expert, is not seen as a coincidence. Karen, as she is known, immediately shared significant news: "The US exchanges are coming," emphasizing that this referred to multiple exchanges, not just a single one.
Further reinforcing these expectations, a recent update indicated that BitGo integration was imminent, with Uphold Inc. also expected to follow. This marks the first public mention of Uphold Inc. in relation to IOTA. Uphold is recognized as a substantial and trustworthy US exchange, known for its proactive approach to listing new assets and positioning itself as a gateway for early access. Negotiations for this listing are understood to have been extensive and involved several stages.
The evidence suggests that the IOTA Foundation has been diligently working for over a year to establish a foothold in the US market, and these efforts now appear to be yielding results. The upcoming period is expected to see significant activity in the US. There is increased confidence in the development of a gateway for US retail investors to participate in IOTA. Furthermore, there is particular excitement about leveraging this US market entry to advance initiatives like TWIN, OROBO, SALUS, and Turing Cert. The United States represents the world's largest economy, and IOTA aims to secure its share of this market, a move that is considered long overdue.