La Cardano Foundation in an announcement he stated that he will soon start a partnership with COTI, in order to create a new payment solution that will come supported in ADA. This new solution is aimed at merchants. COTI is an enterprise-level fintech platform that is currently working on the development of a payment gateway will employ the ATA cryptocurrency, and that it will be launched at the beginning of November.
The gateway will allow all merchants who wish to be able to receive instant payments even in ADA with the related conversion into 35 Fiat currencies, all linked directly to their bank account. The payment solution can be easily integrated inside of the seller's website, through the button that will be named adaPay. After that you can use it not only on online stores, but also in physical sales points that have a POS with QR Code technology.
With this partnership, Cardano can also use the UPS, Universal Paymant Solution by COTI in order to strengthen the ADA payment gateway offer and thus be able to expand the cases of use of the cryptocurrency, both outside and inside the Cardano ecosystem.
As new financial services, such as prepaid debit cards and loans, will also be integrated into UPS, these will also be made available to all those who use ADA. As stated by CEO Shahaf Bar-Geffen, by COTI: We are very happy to be able to collaborate with Cardano and thus create a single payment solution dedicated mainly to merchants who want a functional payment system. We are confident of the support of our partners within the COTI and Cardano ecosystem.
This is an effort made together that we are making in order to provide a solution dedicated to universal payments and at the same time expand the COTI technology stack beyond our ecosystem. COTI also allows cross-chain interoperability and was built on its own chain which is in turn based on DAG.