COTI, blockchain payments network and issuer of Cardano’s algorithmic stablecoin Djed has announced that the stablecoin will be finally launched on the mainnet in January of 2023 after months of anticipation.

COTI highlighted the development through its official Twitter handle, as announced by CEO of the payments network Shahaf Bar-Geffen during the Cardano Summit of 2022 on Monday. This announcement follows the disclosure of a delay in the mainnet launch due to the previous Vasil Hard Fork deferment.

According to the announcement, following the success of the full audit of the over-collateralized algorithmic stablecoin, they have fixed January 2023 as the launch date. Additionally, the Cardano Foundation, along with COTI, announced the launch of Djed Pay – a payment platform and cryptocurrency payment gateway that would allow merchants to accept Djed as payment.

(by Albert Brown)