COTI Launches New Product Line
COTI, which in full reads Currency Of The Internet, is one of the highly utilized blockchain platforms for payment solutions. The platform has partnered with different organizations to allow them to build their payment systems on the blockchain network. To give users even more efficiency, the platform is now expanding its product line.
The firm’s recent partnership with Simplex will allow it to create a more enhanced monetary ecosystem that will be easily accessible to users. Besides, the new service will also function as a bridge between digital currencies and fiat currency.
Under this new initiative, COTI’s clients will manage to create a new bank account using an IBAN. Afterward, they can order a COTI Visa debit card that can be used to swiftly and conveniently convert cryptocurrencies into fiat currency that can later be used for transactions.
The Visa debit card will also come in handy for other uses, such as withdrawing cash from ATMs in SEPA and SWIFT regions. It will also allow users to recharge their accounts with digital assets.
The Visa debit card will be included among the features of COTI Pay. The innovative blockchain platform further added that it would integrate more features into the offering in the coming months, which will also include loyalty-based plans.
COTI Plans to create around 8000 cards in the first phase of this product offering. The cards will be distributed in two rounds. The first round will include 3000 cards being sent out to users, while the remaining 5000 cards will be sent out after a month.
COTI has also announced plans to make this new offering available to global users. Currently, the service will be only available in the EU and EEA regions.
COTI Enters into Strategic Partnerships
COTI has been making strategic moves guaranteed at placing the blockchain platform at the top when it comes to blockchain payment solutions. Recently, COTI announced that it would be teaming up with Cardano’s stablecoin platform, Ardana, to launch the Djed stablecoin.
This is one of the notable partnerships in the blockchain space because it will aid the rapidly growing Cardano ecosystem. The partnership will also ensure that crypto-to-fiat payments focused on the Cardano community will be made easily and conveniently. The stablecoin’s advantages will be accessed by consumers and merchants globally.
Commenting on this partnership, the CEO of COTI, Shahaf Bar-Geffen, stated that,
“Today, COTI is doing its first steps in DeFi over Cardano, which we believe will be huge. We are happy to collaborate with the remarkable team of Ardana to bring the Cardano Native Assets to ADA Pay and scale up our operations.”
The news of the collaboration between COTI and Cardano has created a buzz across the crypto community. The best part of this partnership is that the value of the COTI token has increased by around 50%, and it recently achieved an all-time high of $0.66 on September 29. However, the bullish sentiment across the broader market has led to the coin slipping to the current level of around $0.59.