COTI, a digital fintech platform, has just announced its latest products. These include bank accounts and Visa debit cards. Simplex, a financial institution, is its partner in this initiative.
COTI’s New Services
COTI (Currency of The Internet) has increased its product range. It is a blockchain platform that allows organizations to create their own payment solutions. According to a CryptoPotato announcement, the company has teamed up to offer Visa debit cards to customers and bank accounts.
These services will make it easier for users to access the monetary system and act as a bridge between digital assets and fiat currencies.
Clients could open a bank account with an IBAN, and then order a COTI Visa debitcard. They could also convert crypto to fiat and use it for international spending. It is possible to withdraw cash from ATMs in SWIFT or SEPA regions as well as top up the account with crypto assets.
COTI Pay would incorporate the debit card. Blockchain platform said that it will integrate loyalty-based plans and other features into its offering in the future.
COTI announced that the cards would be distributed in two rounds. The initial round will include 3,000 cards, and the second round will see 5,000 cards.
The blockchain team promised that it would spread the solution to different regions worldwide. It is currently only available to EU and EEA residents.
COTI’s Other Partnerships
The enterprise-grade fintech platform recently announced a new collaboration. Cardano’s stablecoin Hub, Ardana, was the new partner.
The alliance enabled crypto-to-fiat payments that were aimed at Cardano communities, as well as consumers and merchants around the world. Shahaf Bar Geffen, COTI’s CEO, confirmed the move.
“Today COTI is taking its first steps in Defi Over Cardano. We believe that this will be a huge step. We are delighted to work with Ardana’s remarkable team to bring Cardano Native Assets into ADA Pay, and to scale up our operations.”
The news was a big hit with the crypto community. The news also caused COTI’s token prices to spike by approximately 50% and hit an all-time high of $0.60. Yesterday, it tapped another record at $0.66. However, the price has now retraced to $0.62.
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