An enterprise-grade altcoin centered on payments and supported by Cardano is making waves after a sudden launch on the popular US-based crypto exchange Coinbase.
Coti (COTI) trading went live on Coinbase on Friday after hitting Coinbase Pro on Wednesday.
The listing triggered a spike in the price of the crypto asset, from $0.29 to $0.45 – a 55% increase.
The project launched in 2019 to empower any organization to build its own private payment solution and digitize any currency using the Trustchain protocol.
The Trustchain protocol can be utilized to process over 100,000 transactions per second and to power online and offline payments, loyalty payments, stablecoins, and more.Â
The Cardano Foundation announced its partnership with Coti back in April.
Cardano is using Coti to facilitate payments from ADA holders to Save the Children, an international non-profit organization.
In addition, IOHK, the technology company behind Cardano, invested $500,000 in Coti through its early-stage cFund.
COTI is the latest asset to arrive on Coinbase, following a frenzy of altcoin listings on the platform.
Earlier this month, Coinbase added five new tokens, including Axie Infinity (AXS), Request (REQ), TrueFi (TRU), Quickswap (QUICK) and Wrapped Luna (WLUNA).
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Alones
