Cardano Ties with COTI to Build an ADA Payment Gateway

Cardano Foundation on Wednesday announced its partnership with fintech firm COTI for the development of an ADA payment gateway.

The gateway will allow merchants to accept Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term in ADA tokens and offer an instant settlement service into 35 fiat currencies into the linked bank accounts, the announcement detailed.

The companies aim to make the integration of the gateway easy into the merchants’ website with an adaPay button or at the point-of-sale (PoS) machines via a QR-code. Per the company, the system will also enable merchants to manage all transactions in real-time.

Commenting on the partnership, Shahaf Bar-Geffen, CEO of COTI, said: “We are pleased to team up with the Cardano Foundation in building a unique payment solution for merchants seeking adaPay checkout functionality.”

Bringing crypto payments to a wide audience

The role of COTI is to develop and implement the services for the crypto company. In addition, the Cardano Foundation will also Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term COTI’s universal payment solution (UPI) to power the ADA payment gateway offering.

With UPI, the foundation aims to bring a comprehensive payment solution to combine all existing support systems of traditional payment processors with the added value of digital assets. It will also be used to extend the utility use case for the token – both inside and outside of the Cardano ecosystem.

Earlier this year, in an interview with Finance Magnates, Cardano founder Charles Hoskinson revealed the ambition of the company to be a payments giant and also believe that it can beat Facebook’s proposed cryptocurrency in emerging markets.

“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,” Bar-Geffen added.