Cardano Ventures, founded by the IOHK Foundation, announced it had invested $ 500,000 in COTI. Founded last July and known as cFund, the fund made its first investment.
Cardano Ventures; Founded by Wave Financial and IOHK in California. According to the announced announcement, cFund’s investment will be used to “accelerate integration and strengthen the collaboration between Cardano and COTI”.
Preparing for the Shelley Network
COTI started working with Cardano in 2019 and released the first version of the ADA Pay product. The COTI team is trying to prepare ADA Pay for the Shelley update in Cardano. Shelley’s first major customer is expected to be presented in the next few weeks.
It was stated that the Cardano and COTI teams could develop new products later in the year. “We are considering leveraging COTI’s advanced fintech infrastructure to expand ADA’s floor space,” said Charles Hoskinson, Founder of Cardano. said.
CFund, a $ 20 million fund, was formed to support startups and companies in the Cardano ecosystem. The investment amount for projects supported by the fund varies between $ 250,000 and $ 500,000.