Cardano Partners with COTI in Payment Processing

“Hello Everyone! Exciting News! The Cardano Foundation has partnered with COTI network to offer an ada payment processing solution for merchants. The payment solution can be easily integrated directly into the merchant’s website via an adaPay button or a QR-based point of sale (PoS) system. The offering will simplify accepting and settling ada payments, and enable merchants to manage all transactions in real-time.” Read More — Bakyt Azimkanov, Global PR, Communications and Marketing Director

Summary

The Cardano Foundation and COTI, an enterprise-grade fintech platform, are to develop an ADA payment gateway. The offering — due to launch in November — will allow merchants to accept ADA payments with a near-instant settlement into 35 fiat currencies directly into their bank accounts.

The payment solution will be easily integrated directly into a merchant’s website either with an adaPay button or a QR-based point of sale (PoS) system. The offering will simplify accepting and settling ADA payments, and enable merchants to manage all transactions in real-time

As COTI Universal Payment Solution (UPS) is extended to provide other financial services, such as lending products and prepaid debit cards, these will also be made available to ADA merchants.

Significance

Cardano is busy setting up partnerships to increase the reach of their token. With this latest move, they are delivering a universal payment solution and expanding the COTI tech stack beyond their own ecosystem. It helps to further extend the utility use case for the token — both inside and outside of the Cardano ecosystem.

Price at the time of Blockfolio Signal: $0.037. View ADA on Blockfolio.