Cardano (ADA) Bets on DeFi: Stablecoin Hub Ardana to Partner with COTI (COTI)

Cardano (ADA) bet more and more Decentralized Finance (DeFi). This has led customers to need secure options for fiat money and stablecoins.

To meet that need, Cardano created Ardana a while back. Ardana is a stablecoin hub on the Cardano network. Ardana must ensure that stablecoin payments will become possible on ADAPay, Cardano’s payment system. Thanks to Ardana, customers will be able to pay with ADAPay, in places where stablecoins are accepted.

In the meantime, COTI (COTI) has also entered into a partnership with Ardana, as can be read in an official announcement. Millions of merchants worldwide will have access to stablecoin payments through the Cardano network. This avoids the volatility of cryptocurrencies. Shahaf Bar-Geffen, CEO of COTI had this to say:

“Today, COTI is taking its first steps towards DeFi on Cardano, which we believe will be huge. We are happy to partner with Ardana’s remarkable team to create new Cardano Native Assets to ADAPay and scale our operation.”

In the announcement of COTI, Ryan Matovu, founder of Ardana also mentioned:

“Both COTI and Cardano have a value proposition that is immediately applicable to our daily lives, no matter where we are. When it comes to e-commerce, it is within our vision to enable our stablecoin to participate in all facets of life – from on chain yield farming, to financing the actual yield farming off chain”.

Cardano Summit 2021

This weekend (September 25 and 26) the Cardano Summit 2021 will take place. All (upcoming) developments around Cardano will be discussed here. The Plutus dAppStore is one of the topics on the schedule, as well as the further elaboration of smart contracts and Cardano’s plans in Africa. You can see the full agenda here find.

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