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The Cardano Foundation has announced the launch of AdaPay solution, which will allow merchants to accept payment in Cardano’s native token, ADA – the eleventh largest cryptocurrency by market capitalization.
Developed in collaboration with fintech firm COTI, AdaPay “allows merchants to accept payments in ada with a near-instant settlement into 35 fiat currencies directly into their bank accounts,” the announcement read.
In October, the Cardano Foundation teamed up with COTI to develop the ADA payment gateway. Merchants can easily integrate the payment solution into their website either with an adaPay button or a QR-based point of sale (PoS) system. Shahaf Bar-Geffen, CEO of COTI, said at the time:
“We have a lot to the mutual trust and support between the Cardano ecosystem partners and COTI. This joint effort is one of the first steps we are taking in delivering a truly universal payment solution and expanding the COTI tech stack beyond our own ecosystem.”
Earlier this week, COTI announced the first release of its Crypto Gateway, which allows merchants to accept Bitcoin easily and directly via their websites. It said that the future releases of the COTI Payment Gateway will include support for credit cards, ETH, USDT, USDC, and other cryptocurrencies.
“[W]e are pleased to announce today the release of the ‘pay with ada’ gateway solution for payments to be accepted in ada, as part of our collaboration with Cardano,” COTI said.
“Thanks to the Crypto Gateway, merchants will be able to accept ada payments easily and directly via their website.”
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