Digital Currency backed by precious metal Iridium, part of the ISO20022 ecosystem.
ISO20022 is a worldwide industry standard that has been bought in to regulate the interchange of electronic data between financial institutions.
IOTA is an open source, public distributed ledger that is used for providing secure payments and communications between devices on the “Internet of things.
The IOTA ledger stores transactions in a directed acyclic graph structure, called a Tangle.
The Tangle is used instead of the blockchain structure commonly seen in other cryptocurrencies, such as Bitcoin.
This tangle structure is part of what enables IOTA to keep its transactions free, regardless of the size, In addition the confirmations are almost instant and the systems capability is unlimited.