Cardano’s Payment Gateway for Merchants Is Now Live
Helen Partz's original article for cointelegraph.com reduced by 58%
The Cardano Foundation, the firm behind the 12th biggest cryptocurrency Cardano, has launched AdaPay, an ADA payment gateway for merchants. Developed by the Cardano Foundation and enterprise-grade fintech platform Coti, the solution allows merchants to accept ADA payments with "Near-instant" settlement in 35 fiat currencies directly in their bank accounts, the firm announced Nov. 27.The payment gateway was first announced in October 2019.
The Cardano Foundation and Coti first announced their plans for the ADA payment gateway on Oct. 23. Intending to enable merchants to manage real-time transactions in ADA, the solution uses Coti's Universal Payment Solution to further extend the utility case for the token.
The payment tool is expected to combine "All existing support systems of traditional payment processors with the added value of digital assets," as previously announced. In mid-November, French payment firm Ingenico partnered with Singapore-based crypto startup Pundi X to enable its customers to receive payments in crypto using smartphones. On Nov.
8, Swiss crypto broker Bitcoin Suisse teamed up with European payment and transaction services provider Worldline, planning to allow 85,000 Swiss merchants accept payments in major cryptocurrency Bitcoin.
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