The Cardano Foundation is about to launch an ADA payment gateway thanks to a partnership with COTI, an enterprise-grade fintech platform.
According to the company's blog post, the gateway will allow merchants across the world to accept payments in ADA, as it will enable instant settlement into 35 different fiat currencies.
Merchants across the world will be able to accept and process payments in ADA, thanks to a deal the Cardano Foundation signed with COTI.The foundation, which is tasked with developing real-world use cases for Cardano.
The payment processing platform will be built by COTI, a fintech platform offering enterprise solutions.
The first step towards a universal payment solution.
As COTI's platform supports "Extreme scalability and low transaction costs," the Cardano Foundation believes it could become an all-in-one payment solution for merchants.
According to the Cardano Foundation, the ADA payment gateway will be powered by COTI's Universal Payment Solution.
Merchants will be able to easily integrate Cardano and COTI's payment solution to their website using either an adaPay button or a QR-based point-of-sale system.
The solution will reportedly enable "Near-instant" settlement into 35 different fiat currencies that will be deposited directly into the merchants' bank accounts.
Known for its slow development, the company picked up the pace and launched a testnet for the Shelley era of the Cardano blockchain, partnered with New Balance to create an anti-counterfeiting blockchain solution, and is set to launch several new pilot projects in the following weeks.
Cardano Foundation partners with COTI to develop ADA payment gateway for 35 fiat currencies
Udgivet den Oct 24, 2019
by Cryptoslate | Udgivet den Coinage
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