Recruit, a major Japanese conglomerate invests in COTI through its investment arm Recruit Strategic Partners (RSP)
Japan-based RSP has invested in COTI as part of its Blockchain Tech Fund to assist COTI with its wide scale plans of breaking into the Japanese market.
Recruit, a major global enterprise with a market cap of over $50 billion, recently announced its investment in COTI through its funding division RSP. RSP’s investment focus lies in all business stages, from the seed round to the growth phase, and covers sectors such as fintech, blockchain, AI, IoT, robotics and business applications. Some of their most prominent investments include Udacity, BitFlyer, Shift, 99Designs and more that can be viewed here.
RSP’s Blockchain Tech Fund, in particular, invests in promising blockchain technology start-ups like COTI with the aim of seeking out new business models in the field. The fund makes prompt investments in such startups by raising funds for the companies via the use of tokens, thus promoting blockchain development and mainstream awareness.
With the deficiencies experienced by current financial systems, such as security breaches due to centralized operations and high merchant processing fees, blockchain protocols like Bitcoin and Ethereum emerged to solve these shortcomings. However, they have failed to deliver some of the basic features required for their commercial-grade adoption as a means of payment, partly because they are complicated to use, lack the required scalability and do not provide buyer-seller protections. They also possess numerous challenges related to identity, trust, stability and relatively high transaction costs.
The RSP Blockchain Tech Fund recognized COTI’s potential to solve these issues in a way that is cost-effective, scalable, simple to use and secure. This in addition to other benefits, such as a decentralized dispute resolution mechanism to protect buyers and sellers and the ability to equip companies with greater control over their money and data. These robust functionalities are all attributable to COTI’s DAG-based technology and algorithm built on machine learning.
RSP has joined COTI’s list of notable investors, and their extensive portfolio will enable COTI to break into the Japanese market and amplify its user base in Asia.
COTI CEO Shahaf Bar-Geffen commented:
“We’re pleased to have made it on the radar of the RSP Blockchain Fund and its larger mission of making leading blockchain projects known to the world at large. This is a notable accomplishment for COTI and further anchors our belief in the enormous potential of the technology market in East Asia.”
Shahaf Bar-Geffen
About COTI:
COTI is an enterprise-grade fintech platform that eliminates all intermediaries and empowers organizations to build their own private payment solution and digitize any currency using its proprietary Trustchain protocol.
COTI provides functionality as robust as Paypal and Alipay while enabling enterprises to create their own unique rules and finally own their payment system to save time and money and regain control over their data. COTI’s platform enables companies to effortlessly create advanced fintech products ranging from payment networks to stable coins, loyalty programs and more.
COTI’s 30+ people team is built from highly experienced individuals, who previously held positions at IBM (former head of research), Ripple (former CRO), Blackrock (former CIO), Investec bank (former CEO), as well as cryptographers from Israeli elite army intelligence units.
About the Recruit Group:
Founded in 1960, the Recruit Group creates and provides platforms that connect companies and consumers. Headquartered in Tokyo, Japan, the Group offers a wide range of services in a variety of areas including human resources, education, housing and real estate, bridal, travel, automobiles, dining, and beauty. The Group has more than 40,000 employees and operates in more than 60 countries. For more information, please visit the company’s website at https://recruit-holdings.com/
COTI’s IEO will be dropping on KuCoin on 4 June, 2019. For other exciting COTI news, you can stay up to date on our Telegram group.
