The COTI digital fintech platform has announced its latest products to provide users with Visa debit cards and bank accounts. Its partner in this initiative is the financial institution Simplex.
New COTI services
COTI (Currency Of The Internet) – a blockchain platform enabling organizations to create their own payment solutions – has expanded its product line. The company teamed up with the Fintech company Simplex to introduce customers to Visa debit cards and bank accounts.
The new services would give users easier access to the monetary ecosystem and serve as a bridge between fiat currencies and digital assets.
Clients could open a new bank account with IBAN and order a COTI Visa debit card. Here, they could convert cryptocurrencies to fiat for global spending. It would also be possible to withdraw cash from ATMs, both in the SWIFT and SEPA areas, as well as recharge the account with cryptocurrencies.
The debit card would be implemented in COTI Pay. Representatives of the platform added that in the future they will integrate other functions and plans based on loyalty into the offer.
COTI revealed that she would lay out the cards in two rounds. During the first one, will send 3,000 cards, while another 5,000 will be available a month later.
The team behind the blockchain project ensured that the solution would be distributed to various areas around the world. At this time, however, it only applies to EU and EEA residents.
Another COTI partnership
Recently, the fintech enterprise-class platform announced further collaboration. It is a decentralized stablecoin center called Ardana, which will bring to Cardano the necessary basic parts of DeFi needed to establish and maintain any economy.
In addition to consumers and merchants around the world, the Alliance has secured crypto-fiat payments to the Cardano community. Shahaf Bar-Geffen, CEO of COTI, confirmed the move:
“Today, COTI is taking its first steps in Defi via Cardano, which we believe will be huge. We are excited to work with Ardana’s remarkable team to bring new native Cardano assets to ADA Pay and expand our operations. ”
This report caught the attention of the crypto community. What’s more, the price of the COTI token increased by about 50% to reach an all-time high (ATH) of $ 0.60. Yesterday, the price approached a new record of $ 0.66, but then returned to approximately $ 0.62.