COTI has announced another partnership to accelerate adoption of the Cardano stablecoin.
COTI, a DAG-based Layer 1 protocol designed specifically for enterprises, Announcing another new partnership For Djed, Cardano’s official stablecoin.
We are pleased to announce a new partnership with Djed @empowa_ioa RealFi project built on the Cardano blockchain, is looking to use Djed as a means of transferring funds to construction partners in Africa.
— Coty (@COTInetwork) October 3, 2022
according to Blog post of the dayEmpowa, a RealFi blockchain project built on the Cardano network, is the latest company to show interest in stablecoins.
Following its partnership with Empowa and COTI, the company will add Djed as a payment method to facilitate the transfer of funds to local building partners.
Empowa CEO and co-founder Glen Jordan commented on the development:
“As a proud Cardano project, we are very excited to see the ecosystem reach this important milestone, the launch of the native stablecoin. We want to play a role in supporting wider adoption.”
Empowa is notable for enabling local developers in Africa to offer their customers an affordable lease-to-own alternative to eco-housing.
This system allows tenants to own the home at the end of the lease term and is an effort to make quality housing affordable for everyone. Empowa is one of the companies driving blockchain adoption in Africa, highlighting Cardano-related products.
Notably, by adding Cardano’s Djed as a payment instrument for transferring funds to local construction partners, Empowa takes another step towards realizing this goal.
“This partnership, along with several previously announced partnerships, will ensure proper utilization of Djed across the Cardano ecosystem and increase its use cases across multiple platforms.‘, COTI said in a statement.
Djed Edges nearing mainnet launch
Cardano’s official stablecoin has come a long way since the project was announced last year. COTI has signed several partnerships With top Cardano projects for Djed adoption. The team that builds Djed – COTI and Input Output Global (IOG) – is dedicated to developing an algorithmic stablecoin and Pushed it for audit.
The team is currently waiting for an audit report to see if the stablecoin has any technical issues. As we mentioned last week, if all goes well, Djed will launch on the Cardano mainnet very soon.
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