COTI, one Blockchain-driven cryptocurrency payment ecosystem, Has announced that its COTI bank account and VISA debit card are now available.
“We have been working with our close partner Simplex to provide our users with COTI bank accounts and debit cards, and we are very pleased to successfully achieve this important milestone.”
– COTI team
Bank account and VISA debit card promote COTI ecosystem
Debit cards and bank accounts are an important part of COTI’s all-encompassing financial ecosystem, providing a seamless relationship between the legal world and the crypto world.As the design partner of Simplex, COTI takes the lead in the list, and the COTI community will take the lead in owning the brand COTI payment debit card.
By using a cryptocurrency-friendly bank account, COTI users will be able to open a bank account with IBAN in their name, store the fiat currency locally in their COTI Pay wallet, and globally at any merchant that accepts VISA cards Spend their balance online or in-store.
Since Simplex is a major member of VISA, these debit cards are more sustainable than other encryption cards. After receiving the card, you can use it for a long time.
In the future, the bank plans to also become part of the COTI Pay Business suite provided to merchants, and will greatly increase their usage, thereby increasing returns to COTI stakeholders.
The initial version of the COTI account includes:
- Use IBAN to open and own a bank account
- COTI’s VISA debit card
- Convert cryptocurrency to fiat currency and use COTI debit card to spend online or in-store globally
- Activate the card, receive the security code, check the balance, view the transaction
- Withdraw funds from ATM, SWIFT, SEPA
- Load your account by selling cryptocurrency, swift, SEPA, cards
The first round includes 3,000 cards. They will be sent first to the person who registered first in the past. The second round will open one month later and will accommodate 5,000 additional cards.
Plans for the next version
Cardholders will add more features and benefits, develop special plans based on loyalty, and even design unique VIP cards. Deep integration with COTI Pay will be implemented, including a fiat account and the ability to buy and sell cryptocurrencies directly from bank accounts in the Coti Viper Wallet app.In addition, more countries will be added
How to use COTI bank account and card?
- To open a COTI bank account, please click this link: coti.simplex.comAfter filling in all the required fields, you will be redirected to the debit card page where you should fill in the delivery details.
- After completing the application, the new debit card will be delivered (in Europe) within 4-7 working days.
- Those who applied for a COTI debit card in the past have received an email a few hours ago with links to open a bank account and order a debit card.
- Now that you have a COTI bank account, you can have a personal IBAN that allows you to transfer money from or to any bank account in the world. Not only can you send and receive fiat currency, you can also store it through the COTI Pay app, and convert cryptocurrency to fiat currency, and vice versa.
- Physical and virtual debit cards have significantly increased the adoption rate of the COTI network, because merchants that cannot accept encryption as a payment method can now accept it as a de facto payment option through COTI debit cards.