Publicly traded company U Power has entered into a strategic partnership with IoTeX to explore the realm of Real World Asset (RWA) tokenization.

BlockBeats News, July 23rd, U Power Limited (Nasdaq stock code: UCAR, hereinafter referred to as "U Power" or the "Company"), as a provider focused on next-generation smart grid and intelligent transportation systems AI-driven solutions, announced today the signing of a Memorandum of Understanding and Business Cooperation Agreement with IoTeX.

IoTeX is a blockchain pioneer dedicated to transforming machine-generated data into AI collective intelligence. According to the terms of the strategic cooperation agreement:

IoTeX will purchase Real World Assets (RWA) issued by U Power and backed by corporate bonds; this will strengthen U Power's capital structure, support the continuous research and development of its UOTTA™ electric vehicle battery swapping technology, accelerate U Power's expansion in Web 3.0 AI-driven energy and transportation system solutions.

The two parties will also actively explore innovative solutions for tokenizing these RWA and integrate advanced AI technology to ensure the security, scalability, and efficient growth of the assets. This collaboration demonstrates the mutual commitment of both parties to sustainable development, technological innovation, and driving real-world application deployment through blockchain finance (DeFi).