Cardano Faces Lawsuit by Former Partner
Main page News, Cardano, Crypto Market, Cryptocurrency
Hot topic
March 16, 2020

Cardano Foundation, an independent foundation, which responsible to help oversee and supervise the development of Cardano, has said it is facing legal proceedings initiated by Cardano's former research partner Z/Yen Group Limited (UK).

According to an official statement, the proceedings relate to an alleged agreement between the Z/Yen Group Limited and the Foundation dated back in July 2017.

"Due to the ongoing nature of this judiciary process, no further information will be given while proceedings are in progress," the announcement said.

At the end of 2017, Cardano entered into a partnership with the Z/Yen Group to conduct joint research on blockchain applications to expand the scope of the Cardano protocol and Cardano's native token ADA.

Both firms also worked on the implementation of the Distributed Futures program, aimed at studying blockchain, digital currencies, and artificial intelligence.

Ledger Adds Support For Cardano

Last year, the Cardano Foundation launched its payment gateway for merchants. The AdaPay platform, which had been jointly developed by the Cardano Foundation and fintech startup Coti, allows merchants to receive almost instant payments in ADA that are automatically converted into 35 national currencies

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error