cFund is the investment venture fund of Cardano that has announced its first financial partnership with COTI. COTI is a digital asset payment platform that allows merchants to take full control of their money by issuing personalized price-stablecoins. The company is based in Israel, and it specializes in enterprise-level fintech products and services. With a 5000 merchant base, the platform is on its way to make an impact on the blockchain space.
At the moment, COTI is talking about the crypto town due to its recent association with Cardano. The use of the COTI platform allows businesses to build customized payment solutions and digitize any currency that they want. Collaboration with ADA could open up countless possibilities with a service like COTI. Both Cardano’s cFund and COTI execs have been in the negotiations and planning phases for months and finally made the news official today.
What are the Plans of Cardano and COTI Top Brass with this New Collaboration?
David Siemer, cFund general partner, told in his public statement that the Wave Financial officials have long been in favor of the COTI enterprise work and mission statement. Wave Financial is currently managing cFund on behalf of Cardano. Shahaf Bar-Geffen, CEO of COTI, has said that his enterprise would try to live up to the vote of trust that has been extended by cFund and the venture marks as a historical event for the COTI team.
Charles Hoskinson has also expressed his good wishes and optimism about the project scope. cFund is an initiative by Cardano that aims at searching for new synergetic ventures for Cardano. The venture is also anchored by IOHK, providing it with a stable baseline.
What is the Scope of ADA-COTI Venture in the Future?
The possibilities for ADA with this new venture would become boundless. The digital asset would acquire a much greater utility in the corporate sector and would have a better standing in the digital economy by allowing the corporations with various services and products with the Cardano token’s help. COTI already worked with Cardano in 2019.
The last project between the two firms was ADA PAY. This venture had plans to facilitate Shopify integration with ADA payment facility in more than 500,000 platforms. A visible show of courtesy and consideration by the COTI and cFund executives also affirms that both firms would be looking at more projects to be undertaken by the end of this year.