COTI Receives VC Investment From Cardano’s cFund

COTI Receives VC Investment From Cardano’s cFund

Cardano backing cFund has just announced its first investment in COTI. The Swiss-based non-profit proactively looks for investment opportunities for the advancement of decentralized economic empowerment.

To share the news, the COTI official account shared a tweet and linked it to its blog. The financial blockchain announced cFund’s investment and expressed excitement about the prospect.

Cardano and COTI’s shared history goes back to more than two years. For instance, COTI released the first version of ADA Payback in 2019. COTI is now busy setting up the new ADA Pay for Shelley Mainnet, which will launch in the coming weeks.

Regarding the investment, many senior members of both companies’ teams shared their approval. Moreover, Cardano founder Charles Hoskinson shared his thoughts,

Alongside that, general partner of cFund, Wave, has also shown enthusiasm for the move. In addition to that, one of their officials stated that they had been supporters of COTI for a long time.

cFund supervises and supports the Cardano ecosystem as well as the Cardano community. Also, it works with IOHK for the advancement of ADA and is managed by Wave Financial.

COTI is a fintech platform that offers financial solutions for the crypto community. It allows businesses to build their own payment system and digitize any currency.

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