It is with so much excitement that COTI, an acronym for Currency of the Internet, has been welcomed by the Cardano Foundation. It becomes a payment gateway provider for the Cardano ecosystem.
COTI is an enterprise-grade financial technology supplier from Israel that authorizes organizations to make and incorporate their own payment solutions.
COTI is a blockchain protocol for decentralized payment processing. It allows businesses and governments to point out issues with their own coins. It will provide a simple and comfortable way for associations, merchants, and philanthropies to integrate a payment gateway known as ADA Pay. Which will directly accept and administer ADA payments and donations.
The first ADA Pay integration for the Cardano ecosystem will further help ADA payments from ADA holders to an international non-profit organization (NPO), Save the Children Organization.
ADA owners contribute to charities
As reported at IOHK’s Africa Show, the Save the Children Organization will use the ADA. Which they promote through the Cardano community. They will use COTI’s payment gateway for their charges in Rwanda, East Africa.
The CEO of the Cardano Foundation, Frederik Gregaard, said that this represented the first time that ADA owners could contribute immediately to a charity handling ADA. A payment gateway provider will facilitate it.
It provides an easy device for NPOs planning to accept ADA as a charity. But lack the specialized expertise or time to administer and conserve their own cryptocurrency wallet.
They delight to learn of the positive response of their community to COTI’s first payment gateway with the Save the Children Organization. They also have the assurance that long-term, deeply accomplished social influences will arise from this solution.
The payment gateway result is one of the first critical ways to introduce ADA to millions. It makes it delicate and simple for anyone to send ADA to a recipient. Finally, it does not require a high level of specialized knowledge.
COTI involves finance in the blockchain system
Furthermore, Chief Executive Officer at the COTI, Shahaf Bar-Geffen, mentioned that they please to give the core factors integral to powering such a significant and socially responsible account case for the Cardano ecosystem.
Moreover, this first integration with Save the Children Organization is a blueprint of COTI’s payment gateway. It constructs a simple and easy-to-accept ADA as a charitable association. They are looking forward to welcoming more associations and merchandisers to the COTI ecosystem.
COTI recently received $5000 from the fund. Indeed, it is the first company to receive investment from the Cardano-focused enterprise repertoire.
COTI is completely involving finance in the blockchain ecosystem. Particularly framed to abide by the challenges of both centralized finance and Decentralized Finance (DeFi). This is by pioneering a new type of DAG-based protocol and infrastructure that’s upgradeable, fleetly, privy, inclusive, low cost, and improved for finance.
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