The Cardano ecosystem venture fund (cFund) has formally announced its first-ever investment move in COTI, a power grid for global payments. This new move will see both parties collaborate to bring new products and services to users, with the management of COTI also confirming the news.
COTI is a firm that works to bring enterprise-level fintech products and services specifically to organizations. By making use of COTI, these organizations can not only build their own payment solutions but also digitize any currency they wish to, creating a more robust and transparent payment ecosystem. Cardano and COTI have already been in collaboration in the past, but COTI’s work caught the attention of the cFund, and through this new venture, the two companies can collaborate even more.
The cFund was primarily set up to support efforts that are in line with Cardano’s goal. The fund, which is managed by Wave Financial and anchored by IOHK, engaged in months of discussion with COTI and completed all due processes before the investment was finalized.
Given the two firm’s history and the synchronization of goals, both firms have expressed excitement at this new development.
“cFund is excited to invest in this new opportunity. Shahaf and the team will bring significant adoption to Cardano with COTI’s business partnerships and innovative enterprise-grade fintech technology. We at Wave have been long-time supporters of COTI and are thrilled to further align our interests with theirs,” said cFund General Partner David Siemer.
COTI has previously been …
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