An enterprise-class altcoin focused on payments and backed by Cardano is making waves on popular U.S. crypto exchange Coinbase after a sudden launch.
Trading in Coti (COTI) went live on Coinbase on Friday after encountering Coinbase Pro on Wednesday.
The listing sparked a rise in the price of the crypto asset from $ 0.29 to $ 0.45 – a 55% increase.
The project started in 2019 to enable any organization to build their own private payment solution and digitize any currency using the Trustchain protocol.
The Trustchain protocol can be used to process over 100,000 transactions per second and handle online and offline payments, loyalty payments, stablecoins and more.
The Cardano Foundation announced its partnership with Coti back in April.
Cardano uses Coti to facilitate payments from ADA holders to Save the Children, an international non-profit organization.
Additionally, IOHK, the tech company behind Cardano, invested $ 500,000 in Coti over its early cFund.
COTI is the newest asset to arrive on Coinbase, according to a rage of altcoin offers 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).
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Featured image: Shutterstock / Alones