COTI Rides To All-Time High After Taking 'First Steps' In DeFi Over Cardano

COTI COTI/USD soared 43.79% to $0.56 over 24 hours leading up to press time.

What’s Moving? The token of the enterprise-grade fintech platform has shot up 48.18% over a seven-day trailing period.

COTI touched an all-time high of $0.60 earlier on Thursday. The coin has declined 8.59% since touching those levels.

On Thursday, Coti said it was partnering with Ardana to bring stablecoin crypto-to-fiat payments aimed at the Cardano ADA/USD community.

See Also: How To Buy Cardano (ADA)

“Today, COTI is doing its first steps in Defi over Cardano, which we believe will be huge. We are happy to collaborate with the remarkable team of Ardana to bring new Cardano Native Assets to ADA Pay and scale up our operation,” said Shahaf Bar-Geffen, CEO of COTI in a statement.

Why It Matters: Since the year began, COTI has risen 1063.27% while ADA has shot up 1182.9% in the same period.

See Also: Cardano (ADA) Reaches All-Time High As Smart Contract Functionality Launches On Testnet

In April, Cardano Foundation said COTI would provide its easy-to-integrate payment gateway ADA Pay for various organizations looking to accept and manage ADA payments and donations.

At the time, it was announced that the first ADA Pay integration for the Cardano ecosystem would facilitate ADA payments to the international non-profit organization Save The Children.

Now, with the addition of decentralized stablecoin payments to ADA Pay, users would be able to purchase goods using stablecoins wherever the payment mechanism is accepted.

COTI was listed on Coinbase Global Inc's COIN in late August; its trading is also supported on Coinbase Pro.

The cryptocurrency attracted high interest from Twitter users. It was mentioned in 1,457 tweets at press time, while ADA was mentioned in 1,239 tweets, as per Cointrendz data.

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