- COTI has been appointed the task to develop and implement the merchant-grade payment processing service.
- The Cardano Foundation is aiming to enhance the list of the ADA’s real-world uses.
Non-profit blockchain project, Cardano (ADA) has recently announced its partnership with COTI, an enterprise-grade fintech platform. The partnership aims to boost the commercial adoption of Cardano’s native digital token – ADA. They will jointly work to develop a payment gateway that will allow merchants to transact in ADA.
According to sources, COTI has been appointed the task to develop and implement the merchant-grade payment processing service. The proposed payment system will be integrated directly into the merchant’s website, either with an adaPay button or a QR-based Point of Sale (PoS) system. Shahaf Bar-Geffen, CEO of COTI, commented on the partnership saying:
“We are pleased to team up with the Cardano Foundation in building a unique payment solution for merchants seeking adaPay checkout functionality. We have a lot of mutual trust and support between the Cardano ecosystem partners and COTI. This joint effort is one of the first steps we are taking in delivering a truly universal payment solution and expanding the COTI tech stack beyond our own ecosystem. The ways people exchange value is changing for the better, and the future is looking more promising for payments.”
The Cardano Foundation will utilize COTI’s Universal Payment Solution (UPS) to develop the ADA payment gateway. The Cardano Foundation is aiming to enhance the list of the altcoin’s real-world uses. The move towards developing a digital currency payment platform is not unforeseen. The smart-contract project has steadily targeted merchants to encourage the real-world adoption of ADA.
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