The Cardano Foundation Welcomes COTI as a Payment Gateway for Cardano
ZUG, 29 APRIL 2021. The Cardano Foundation is delighted to welcome COTI as a payment gateway provider for the Cardano ecosystem. COTI is an Israeli enterprise-grade fintech provider that empowers organizations to build and integrate their own payment solutions.
COTI will provide a simple and easy to integrate payment gateway, called ADA Pay, for organizations, merchants, and charities looking to directly accept and manage ada payments and donations.
The first ADA Pay integration for the Cardano ecosystem will facilitate ada payments from ada holders to international non-profit organization (NPO), Save the Children. As unveiled at IOHK’s Africa Show, Save the Children will utilize the ada they raise through the Cardano community using COTI’s payment gateway for their mission in Rwanda.
Frederik Gregaard, CEO at the Cardano Foundation, says:
“This represents the first time that ada holders can donate directly to a charity using ada, facilitated by a payment gateway provider. It provides easy tools for NPOs looking to accept ada as a donation, but who lack the technical expertise or time to manage and maintain their own cryptocurrency wallet. We are excited to see our community's response to COTI’s first payment gateway with Save the Children, and we are certain that long-term deeply positive social impacts will emerge from this solution.”
The payment gateway solution is one of the first necessary steps to bringing ada to the masses, making it quick and easy for anyone to send ada to a recipient without requiring a large degree of technical know-how.
Shahaf Bar-Geffen, CEO at the COTI, says:
“We are pleased to be able to provide the core components necessary to power such an important and socially responsible use case for the Cardano ecosystem. This first integration with Save the Children is a blueprint of how COTI’s payment gateway will make it simple to accept ada as a charitable organization, and we look forward to welcoming more organizations and merchants to the COTI ecosystem.”
COTI recently received US$500,000 from the cFund, becoming the first company to receive investment from the Cardano-focused venture fund.
About 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.