BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Singapore-Based Cosmose AI Partners with Near for Low Shopping with Crypto

by BlockNews Team
April 28, 2023
in Business, Crypto, Finance, Technology
A A
Singapore-Based Cosmose AI Partners with Near for Low Shopping with Crypto
1
SHARES
Share on TwitterShare on Reddit
  • The NEAR Protocol provided Cosmose AI with an undisclosed sum of money. The company is now valued at $500 million.
  • Cosmose’s KaiKai app will use NEAR’s blockchain infrastructure to reduce the cost of online payments. 
  • In terms of daily active users, NEAR Protocol lags behind other Layer 1 blockchains.

Cosmose AI has received undisclosed funding from the NEAR Protocol ​​to reduce the cost of crypto payments.

Cosmose, an AI-based company primarily focused on retail shopping, has partnered with NEAR Protocol, a Layer 1 blockchain. According to TechCrunch, the latest round of funding allows Cosmose to exercise a $500 million valuation.

Cosmose’s KaiKai app will use NEAR’s blockchain infrastructure to reduce the cost of online payments. 

Cosmose hopes that blockchain will make payments 50 times cheaper

KaiKai has its stablecoin, Kai-Ching, which is worth $0.01. Users can use fiat to the on-ramp and then convert it to Kai-Ching for payment purposes.

Cosmose founder Miron Mironiuk believes that KaiKai can reduce transaction costs by 50 times compared to current payment leaders such as Stripe or PayPal.

Stripe and PayPal, he explains, charge 10% fees for small transactions such as a $5 cup of coffee. Eventually, the high fees force the seller to raise the price, and consumers may have to pay an extra $200 per year. He claims that Cosmose’s KaiKai will reduce the annual cost from $200 to $4.

Transparency via the NEAR Protocol

Cosmose will also migrate customer data to the NEAR Protocol’s blockchain to improve transparency. It eventually wants users to be able to customize how and what is tracked from their data.

“It’s not just a technical challenge,” Mironiuk says. 

It’s also a user experience challenge to figure out how to do it so that people can check it out, get some insights, and make a decision quickly,” the founder explained.”

“Cosmose has already been building on NEAR testnet,” says Marieke Flament, CEO of the Near Foundation, “and with this additional support, it will have many more opportunities to grow and expand its offerings with Web3 in a sustainable, transparent, and infinitely scalable way.” 

However, NEAR Protocol may not be a popular choice among blockchain users. According to the most recent Token Terminal data on daily active users, the NEAR Protocol has a 1.33% market share among 19 Layer 1 projects.

Conclusion

Near and Cosmose are also said to be developing a system that will allow users to see how they are being tracked, including location data and time spent in a store.

Meanwhile, Cosmose announced that it had expanded its product offerings and geographical footprint since the 2020 fundraising, making the platform available to customers in China, Hong Kong, Singapore, Japan, and Southeast Asia. 

Tags: AICosmose AIcryptoSingaporeTechnology
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

Chainlink’s Bullish Setup: Why LINK Could Follow Bitcoin to New Highs
Chainlink

Chainlink’s Bullish Setup: Why LINK Could Follow Bitcoin to New Highs

May 24, 2025
FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means
Crypto

FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means

May 24, 2025
Sui Faces Its First Major Governance Crisis After $223M Cetus Hack
Crypto

Sui Faces Its First Major Governance Crisis After $223M Cetus Hack

May 24, 2025
Cardano (ADA) Blasts Through Key Levels — Is This the Comeback We’ve Been Waiting For?
Cardano

Cardano (ADA) Blasts Through Key Levels — Is This the Comeback We’ve Been Waiting For?

May 24, 2025
Dogecoin Is Warming Up for a Monster Breakout – Are the “God Candles” Coming?
Crypto

Dogecoin Is Warming Up for a Monster Breakout – Are the “God Candles” Coming?

May 24, 2025
SOL’s Clear Signal: Symmetrical Triangle Breakout Paves Way for $205
Crypto

SOL’s Clear Signal: Symmetrical Triangle Breakout Paves Way for $205

May 24, 2025
Load More

Related News

Chainlink’s Bullish Setup: Why LINK Could Follow Bitcoin to New Highs

Chainlink’s Bullish Setup: Why LINK Could Follow Bitcoin to New Highs

May 24, 2025
FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means

FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means

May 24, 2025
Sui Faces Its First Major Governance Crisis After $223M Cetus Hack

Sui Faces Its First Major Governance Crisis After $223M Cetus Hack

May 24, 2025
Cardano (ADA) Blasts Through Key Levels — Is This the Comeback We’ve Been Waiting For?

Cardano (ADA) Blasts Through Key Levels — Is This the Comeback We’ve Been Waiting For?

May 24, 2025
Dogecoin Is Warming Up for a Monster Breakout – Are the “God Candles” Coming?

Dogecoin Is Warming Up for a Monster Breakout – Are the “God Candles” Coming?

May 24, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.