Over six months, Empeiria deployed its technology to create and verify “intelligent digital product passports” – digital documents backed by inspection records that could serve as reliable collateral. The main components of the system included: –Digital identities for producers and inspectors that do not depend on centralized authorities –Digital credentials linked to inspection results that can be independently verified –Secure storage and sharing of these credentials, which can be verified by any authorized party –A verification portal allowing financial institutions to check the authenticity of product records The system was tested for performance, security and scalability in simulated trade environments. Main findings The testing demonstrated that Empeiria’s technology could provide near-instantaneous verification of product credentials with minimal computational requirements. The system successfully issued and validated thousands of digital product passports per second, making it viable for large-scale trade operations. From an operational perspective, the testing confirmed that inspection-based digital credentials could effectively replace traditional paper documentation while providing greater reliability. Participants noted, however, that widespread adoption would require the standardizing of how inspection data is formatted and shared across platforms. The regulatory assessment revealed an important gap: while the technology works effectively, a comprehensive framework for recognizing blockchain-based credentials is currently lacking in official contexts in several jurisdictions. Though such credentials have occasionally been accepted in legal proceedings, no formal recognition exists across jurisdictions. Adopting frameworks similar to those for electronic transferable records would accelerate adoption. Empeiria BOX 5 Company background: Based in the UAE, Empeiria develops blockchain-based trust infrastructure that enables entities to issue, verify and share digital credentials about products and transactions. Its technology helps lenders and buyers confirm the authenticity of goods and inspection results without relying on paper documentation or centralized authorities. Main technology features: –Digital product passports linked to verified inspection data –Decentralized verification that does not require all parties to use the same platform –High-performance credential validation suitable for large-scale trade operations –Privacy-preserving verification that protects sensitive commercial information Testing focus: In the sandbox, Empeiria worked with the FSRA to demonstrate how digital product credentials could serve as trusted collateral for trade finance, potentially transforming how lenders assess and finance inventory-backed transactions. IOTA participated in the sandbox to demonstrate (via its TWIN platform) how decentralized identity and tokenized trade data could transform financing for small exporters. The project specifically targeted the challenge of trust in international trade relationships where parties lack established relationships or banking connections.Access to financing remains a critical barrier for many SMEs, particularly in developing markets. In Kenya, for example, flower exporters that maintain efficient supply chains sometimes struggle to find financing due to their reliance on paper documentation, manual verification processes and complex letters of credit that often involve multiple banks in different jurisdictions.2.2 IOTA: Tokenizing trade data and digital identity for trade finance Advancing Digital Trade: Insights from the UAE TradeTech Regulatory Sandbox 14

Advancing Digital Trade 2025