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10/28/2021

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CardWallet’s Partnership Announcement With COTI!

The payment industry has come a long way in the past couple of years. With the advent of blockchain-based transactions, there has been a huge revolution in this industry as cashless/digital payments are becoming the norm in most parts of the world. Our collaboration with COTI puts us at the epicenter of this ever growing and payment industry, with several opportunities to explore.

CardWallet’s Partnership Announcement With COTI!

The payment industry has come a long way in the past couple of years. With the advent of blockchain-based transactions, there has been a huge revolution in this industry as cashless/digital payments are becoming the norm in most parts of the world. Our collaboration with COTI puts us at the epicenter of this ever growing and payment industry, with several opportunities to explore.

The goal of this partnership is also to bring together the advantages of a non-custodial wallet and an easy-to-use payment platform to our community. We will work together to integrate COTI’s AdaPay solution with CardWallet to provide a robust payment system for our users, which is as seamless and scalable as traditional systems and comes with the security provided by blockchain.

Let us take you through a brief understanding of what COTI is and what our future could look like.

What is COTI?

COTI is a fully encompassing “Finance on the blockchain” ecosystem, specifically designed to meet the challenges of both centralized finance (fees, latency, global inclusion and risk) and Decentralized Finance DeFi (fees, clogging and complexity) by introducing a new type of DAG based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for finance.

At the core of COTI’s infrastructure lies the Trustchain, a proprietary consensus algorithm based on machine learning. The Trustchain lies on a multi-DAG (directed acyclic graph) data structure, which works in tandem to drive up scalability, processing over 100,000 transactions per second (TPS).

COTI recently announced its plan to become a next-gen financial ecosystem.

COTI offers a suite of products to help enterprises create advanced fintech products. Here is a quick look at their offerings:

  • Stable coin factory — which offers clients around the world the possibility to issue their own stable coin on top of the Trustchain.
  • Enterprise and merchant services — A full integration to their backend system, processing of crypto and fiat, wallets and more under the COTI Pay Business brand. COTI will introduce COTI’s Stable Coin For Merchants.
  • Treasury services — Including borrowing and lending $COTI and vault services. Any fees, interests or collateral deposited will be added to the Treasury.

Ecosystem and partnerships — Products built on other networks such as ADA Pay, Djed and more.

Here is a sneak peek into ADA Pay:

ADA Pay is a project developed by COTI and the Cardano Foundation that is used to accept payments or donations in $ADA. The ADA Pay system comes with a full suite of payment gateway, donations gateway and merchant back-office CRM.

Ardana recently announced that they would be bringing decentralized stablecoin payments to ADA Pay, meaning that users will be able to purchase goods using their stablecoins wherever ADA Pay is accepted. Similar to that, wherever ADAda Pay is accepted, users would be able to purchase goods with the help of the CardWallet integration.

What to look forward to in this partnership?

CardWallet and COTI have a common vision of increasing user participation in the DeFi ecosystem by making it seamless for users to interact with the DeFi protocols.

One of the interesting news shared by Cardano is that half a billion dollars worth of ADA is currently being delegated to charity-focused initiatives on Cardano through mission-driven stake pools. It is a proud moment for CardWallet to be a part of this ecosystem and partnerships like this, drive these noble missions of bringing financial and social inclusion in our community.

Projects like ADA Pay are focused on global adoption of crypto and CardWallet’s integration with ADA Pay gives us a stage to reach out to more community members in the entire blockchain ecosystem.

We are passionate about working with projects that are facilitating real time use cases such as buying products or donating to your favourite charity using crypto. Both merchants and consumers across the globe can use CardWallet to make payments for various goods and services. An exciting opportunity, which we are really thrilled to be a part of.

Tiago Serodio, the CEO and co-founder of CardWallet says:

“ COTI’s ADA Pay has been making waves in the DeFi space as it provides access to crypto holders to spend their assets in the market just as they would spend their fiat. Looking forward to this collaboration with COTI, which is going to open up exciting opportunities for our community members.”

CardWallet will be announcing several other partnerships with exciting projects in the Cardano ecosystem. So, stay tuned and do not miss our updates!

About CardWallet

CardWallet is a non-custodial wallet solution built for the Cardano blockchain and several other protocols, incubated by the Occam Association. With out-of-the-box support for Cardano native tokens and Visa, Mastercard, and ApplePay fiat on-ramps, CardWallet is expected to rapidly become a major wallet provider for the entire crypto ecosystem. CardWallet’s strategic and technical partners already include Scalable Solutions, Simplex, Occam.fi, Nodeseeds and Crypto Dorm Fund. Learn more at CardWallet’s website.

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ORIGINAL SOURCE

https://medium.com/cardwallet/cardwallet...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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