COTI has just announced that Ormeus Ecosystem will be extending their initial technology contract with them for another two years as part of a new $2.4 million deal. This continuation builds on the initial $1.5 million agreement signed earlier this year for the development of the merchant gateway and Point of Sale (POS) system. This partnership is exciting because of the extensive knowledge and experience that COTI’s technology team adds to the professionalism of the Ormeus Ecosystem Project.

The Ormeus Ecosystem will be utilizing COTI for the ongoing development of Ormeus Cash (OMC), which will operate on COTI’s Trustchain technology. In addition to helping develop other parts of the macrocosm, including the ECO token, which will be the ‘gas’ or fuel of the whole ecosystem.

COTI brings a truly revolutionary approach to cryptocurrency and payment infrastructure. This includes their recently announced Universal Payment System (UPS) and Global Trust System (GTS). OMC will benefit from these and other COTI technologies to allow a genuinely global and scalable cryptocurrency-as-a-payment solution.

The Ormeus Ecosystem brings its unique features to the table with its asset-backed ecosystem, and transparent and secure Ormeus Reserve Vault (ORV). This vault holds the assets that underpin and give real-world value to the coins and tokens within the ecosystem. The Ormeus Ecosystem is also developing a fully-fledged asset-backed smart economy that will see a diverse selection of blockchain businesses and side-chains operating under one interoperable cross-chain network.

To find out more about the $2.4 million deal, you can also read COTI’s announcement here.