COTI

In April 2021, the Cardano Venture Fund (cFund) made its first investment in Coti, providing $500,000 in capital to the project. Prior to the investment, Coti had offered support to Cardano’s ADA token in helping launch the first version of ADA Pay back in 2019. A few months later, Coti landed another partnership with crypto payment processor Simplex to launch COTI bank accounts and Visa debit cards. Simplex had been acquired by Canada-based payment processor Nuvei just a few months prior, which ultimately led to a partnership between Nuvei and Visa in December. Under the partnership between Nuvei and Visa, merchants on Coti’s blockchain network were given the increased benefit of being able to accept cryptocurrency as a payment method.