The Cardano Foundation, in collaboration with COTI, launched AdaPay. By using this new service Ada users have the ability to convert the crypto coin into 35 different fiat currencies. After that, the currency is sent to the person’s bank account in real-time. In order to use the AdaPay service, a user should join the COTIpay platform, a digital space that enables accepting all payment methods, making transfers easier than ever. AdaPay is meant to make it easier to pay with Ada tokens. The Cardano Foundation is famous for being an advocate for using blockchain in real life, specifically in Business To Business (B2B) payments.
The solution was launched on November 28, 2019. Through AdaPay businesses can easily launch a Cardano-based payment gateway. To do this the representative of the business should only fill out a short form. However, there is a requirement for a minimum sales volume of 50,000 USD. The settlement to a bank account is almost instant, which means that the Cardano Foundation has created a new type of payment method which combines advantages of crypto and traditional payments.
Unsurprisingly, after the release of AdaPay, the price of the token grew The response of the market to Cardano’s solution release was very bullish. During the last couple of days, ADA price increased by 25 percent rising to 0.041 USD. ADA even briefly entered the TOP 10 cryptocurrency list based on market capitalization. However, at the present time, ADA is listed as 12th on the basis of market cap right after TRON (TRX) with a market cap of almost 26 billion USD.
The Cardano Foundation is working on building new ways to make using cryptocurrency for payments more convenient. To find out more information and detail about Cardano and ADA price, check out Cardano Price updates and Cardano Price Predictions to be more conscious of the market and your investment decisions.