Cardano Ventures Invested $ 500,000 in COTI

Cardano Ventures, founded by IOHK Foundation and Wave Financial, announced that it has invested $ 500,000 in COTI. The short name cFund was founded last July and made its first investment in COTI.

The purpose of cFund's investment is to "accelerate the integration and strengthen cooperation" between Cardano and COTI.

The relationship between Cardano and COTI started in 2019, As a result of the work done together, the first version of the ADA Pay product was released in 2019. The COTI team is trying to get ADA Pay ready for the Shelley update in Cardano. It is expected to be introduced in the coming months. It was also stated that Cardano and COTI teams will develop new products and new projects in the future. The Cardano team is working diligently to increase the usage areas of ADA.

After the investment, Charles Hoskinson said, "COTI has been a great partner across several projects already, and we plan to leverage their advanced fintech architecture to enable future finance applications on ADA".

Shahaf Bar-Geffen, CEO of COTI, summarized this investment as an important milestone in the development of the projects and said, "We are excited to be working with Cardano."

The Cardano team continues to work without slowing down and they are doing their best to be better. The announcement of new products and new projects excites and delights Cardano (ADA) investors.

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