New Cardano Partnership Sees Development of 35 Fiat Currencies For Payment Gateway

New Cardano Partnership Sees Development of 35 Fiat Currencies For Payment Gateway

The Cardano Foundation is getting ready to launch an ADA payment gateway which is all thanks to a partnership with, an enterprise-grade fintech platform, COTI. Speaking in a recently published blog post by the Cardano Foundation, the firm says that the gateway will allow merchants from all over to accept payments in ADA as it will enable instant settlement into 35 different fiat currencies. 

Across the globe, merchants will now be able to accept and process payments in Cardano’s flagship product, ADA. 

The offering is set to see release in November according to the blog post and is to be built by COTI. 

Shahaf Bar-Geffen, CEO of COTI, has 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.”

Merchants will have an easy time in implementing Cardano and COTI’s payment solution to their website using either an adaPay button or a QR-based point of sale system. 

Known for its slow development, this partnership is the latest milestone by Cardano, which has had a very good few months. The company picked up its speed and launched a testnet for the Shelley time of the Cardano blockchain, partnered with New Balance footwear in order to design an anti-counterfeiting blockchain solution, and is set to see the release of multiple new pilot projects over the next month or so.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

 

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