Bitcoin, when it first appeared, was intended to be an alternative to the existing payment system and to solve many of its problems. To develop a number of projects that compete with Bitcoin in the payments system by offering fast transactions and low fees.

The Fantom Project has announced a partnership with the COTI Project, who have previously collaborated on research and technical knowledge.

Fantom also told the management that it had previously hosted the COTI management team on Telegram to answer questions from followers through the ‘Ask Me Anything’ AMA segment.

She told Fantom Project Management that she was excited about the new partnership with COTI and that she wanted to make this partnership more realistic for both parties.

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A spokesperson for the Fantom project told the website,mediumBy the following:

We were thrilled to seal a deal between Fantom, Xar network and COTI

To collaborate on a payment solution for Fantom-based networks, and to make CSDTs usable in everyday life.

What will Fantom, Xar, and COTI actually do to make CSDT tokens usable?

Mr. Michael Shen, Director of Operations at the Fantom Project, responded with the following:

COTI will integrate Fantom-based major networks such as Xar Network into their existing payment mechanisms, allowing us to build FantomPay and XarPay on a trusted infrastructure that supports merchants on various platforms.

By utilizing the COTI infrastructure, merchants will be able to accept CSDT or stablecoins backed by Xar fiat currencies, while still receiving fiat currencies into their bank accounts as normal and with wide global coverage that supports 35 global currencies.

All transaction data will also be placed on the trusted COTI network, unlocking more uses and financial services, and adding more interest to COTI’s native token.

To demonstrate the reliability and speed of COTI’s payment infrastructure, COTI will also integrate the FTM ERC20 token into the payment network initially for community members, merchants and interested parties with a solution that will be available in the first quarter of 2020.

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On the other hand, the COTI project recently launched the “AdaPay” service in cooperation with the “Cardano” Foundation, allowing merchants to accept ADA coins in their stores.

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