Recruit invests in next-gen blockchain startup COTI

Japan-based company Recruit revealed it has invested in blockchain startup COTI through its investment arm RSP Blockchain Tech Fund.

COTI, which was founded in 2017, offers next-generation blockchain using the cryptocurrency DAG (directed acyclic graph). It focuses on developing blockchain-based payment technology and application.

According to its press release, Recruit aims to improve COTI’s service quality and expand its user base support.

“In a social environment where the potential and capabilities of blockchain technology are rapidly growing, RSP Blockchain Tech Fund Pte. Ltd. recognizes the rising importance of seeking out business opportunities in this area, and makes prompt investments in startup companies that are involved in blockchain technology,” the company stated.

Recruit noted that COTI’s blockchain technology is unique and provides a “dramatically faster transaction processing speed” compared with conventional ones. It also pointed out COTI’s transaction history tool enables clients to detect potentially suspicious payments.

With Recruit’s market cap of $50 million, the newly forged partnership is a dramatic win for the COTI platform.

Meanwhile, COTI has also formed a strategic partnership with Fantom to transform the blockchain ecosystem, according to The Bitcoin News.

Fantom has a high TPS and low time to finality (TTF), which is made possible through the Lachesis protocol that is powered by the OPERA Chain. This technology is predicted to change the current payment system and supply chain management solutions as it is able to support dApps that can handle tens of thousands of transactions per second.