If you need to work on 8086 assembler for developing or studying, 8086 ASM is for you.
It's an 8086 assembler simulator, that allows you to write (or paste) your assembly code and execute it, one line at time, and see values of registers, just like EMU8086 on PCs.

Note that this is a simulator and no real ASM code is executed on your iPhone: if you want this application to create apps for your phone, you are wrong!
This is for testing, debugging and teaching purposes.
8086 ASM allows you to input your ASM code and view registers changing according to every executed line of code!

Not every aspect of real 8086 Assembly is supported yet, it's going to cover almost everything in future releases.