Cardano Join Hands With COTI To Create Ada Payment Gateway For Merchants To Process Transactions

Cardano is an independent body based in Zug, Switzerland. It recently announced on October 23 its parnership with COTI, an enterprise-grade fintech platform, to develop an ADA payment solution that will enable merchants to process their transactions.

The ada payment system will be launched in November. The aim is to enable merchants process their payments in ada and be able to receive payments in 35 different local currencies into their bank account.

Shahaf Bar-Geffen, CEO of COTI, spoke of the development. In his own words, he said:

“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 to the 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.”