COTI Launches IDR143 Billion Funding For Investment In DEX Cardano

JAKARTA – Crypto developer COTI has reportedly released COTI Ventures. It aims to focus on investing and exploiting the “best opportunities” in the COTI ecosystem.

For your information, COTI is the first enterprise-grade fintech platform that empowers organizations to build their own payment solutions and digitize any currency to save time and money.

CoinMarketCap reports that COTI is one of the world's first blockchain protocols optimized for decentralized payments and designed for use by merchants, governments, payment DApps, and stablecoin issuers.

Reporting from CryptoPotato, the initial funding budget of 10 million US dollars or Rp. 143 billion will be aimed at equity, tokens, and other funding at start-up COTI Ventures. Yair Lavi as COTI's CFO, together with the research team and analysts will arrange the funding.

They will be tasked with identifying opportunities for collaboration and analyzing ways to contribute to the COTI business model. In addition to the initial investment, the team will also guide the selected project and leverage their expertise, connections and resources to help them achieve their business goals.

COTI expressed its desire to form a “strong and experienced founding team with a strong business plan that relies on a great product market fit and fast time to market.”

With this initiative, COTI joins the likes of Andreessen Horowitz (a16z), Sequoia, Bessemer, and Bain, who have founded Web 3 and a blockchain-focused fund.”

While talking about her role at COTI Ventures, Lavi stated,

“I'm looking forward to my new adventure as head of COTI Ventures. During my 4 years at COTI, I have seen our ecosystem, as well as our range of products and services, grow rapidly, and the next evolution is to encourage new teams to work with COTI by assisting them in their initial fundraising. ”

In addition, the funds are planned to be invested in a decentralized exchange (DEX) built on the Cardano network, namely WingRiders. Then the funds will also be invested in AdaSwap, a crypto exchange platform also built on the Cardano network.