Crypto payment firm COTI to integrate Bank Accounts & VISA Debit Cards

COTI will give a high boost through pushing their crypto ecosystem with the Banking system. Right now they will allow their users for the COTIpay debit cards for 3000 users. 

COTI is a blockchain based platform, which is known for its integration of the payment infrastructure with other non-crypto platforms. Recently COTI became an official partnership with the Cardano project to issue Djed StableCoin on Cardano ecosystem.

Read also: COTI to Issue Djed Stablecoin on Cardano Blockchain

In the latest announcement, COTI team confirmed that they established their partnership with the Simplex to bring lots of non crypto facilities for their customers.

“We have been working with our close partner, Simplex, to provide our users with COTI bank accounts and debit cards, and we are happy to have successfully achieved this important milestone.”

– The COTI Team

COTI will provide their users a fiat bank account and fiat based cards facility. Users will be able to hold their fiat and crypto assets in the COTI wallet together.

In this early stage, COTI will distribute 3000 COTI debit cards for those users, who sign up for this. And in the next round they will distribute 5000 cards for other users. 

In this initial stages of the rollout of the payment facilities will include following these options for COTI users.

  • Opening and owning a bank account with an IBAN
  • COTI’s VISA debit card
  • Converting crypto to fiat and spending it globally with the COTI debit card, online or in-store
  • Activation the card, Receiving secure PIN, checking balance, viewing transactions
  • Withdraw funds from an ATM, SWIFT, SEPA
  • Loading the account by selling crypto, swift, SEPA, cards

Read also: Kraken reported Vulnerability in many US Bitcoin ATMs