COTI, a blockchain-driven cryptocurrency payment ecosystem, has announced that its COTI bank account and Visa debit card have arrived.
“We are working with our close partner Simplex to provide our users with COTI bank accounts and debit cards and we are pleased to have successfully achieved this important milestone.”
– COTI team
Bank accounts and Visa debit cards boost the COTI ecosystem
Debit cards and bank accounts are an important component of COTI’s all-encompassing financial ecosystem, providing an uninterrupted relationship between Fiat World and Crypto World. As Simplex’s design partner, COTI will be the first to enroll in the program, and the COTI community will own the first branded COTI Pay debit card.
Using crypto-friendly bank accounts, COTI users will be able to open a bank account in their name with an IBAN, store fiat in their COTI pay wallet, and receive their Visa card from any merchant worldwide, both online or in-store.
As a major member of Simplex Visa, these debit cards are much more durable than other crypto cards. Once you get the card, you will be able to use it for the long term.
In the future, this banking program will also be a part of the COTI Pay business suite offered to merchants and will greatly increase their usage, thus increasing the rewards for COTI’s stockholders.
The initial COTI account version rollout includes:
- Open and own a bank account with an IBAN
- COTI’s Visa Debit Card
- Convert crypto to fiat and spend it worldwide on COTI debit cards, online or in stores
- Card activation, secure PIN acceptance, balance checking, transaction viewing
- Withdraw money from ATM, Swift, SEPA
- Accounts are being loaded by selling Crypto, Swift, SEPA, cards
The first round includes 3,000 cards. Those who have registered first in the past will be sent as a priority. The second round will open in a month and will have 5,000 additional cards.
Plan for the next version
Cardholders will add more features and benefits, special plans according to loyalty and even uniquely designed VIP cards. COTI Pay will implement in-depth integration, including the ability to buy and sell crypto directly from a Fiat account and a Viper Wallet app bank account. Also, more countries will be added
How to use COTI bank account and card?
- To open a COTI bank account, click on this link: coti.simplex.com. Once you have completed all the required sections, you will be transferred to the Debit Card page where you need to fill in the details of your delivery.
- Upon completion of the application, the new debit card will be delivered within business days (in Europe).
- Those who have applied for a COTI debit card in the past have already received an email with a link to open a bank account and ordered their debit card a few hours ago.
- Now that you own a COTI bank account, you can have a personal IBAN that allows you to transfer money in and out of any bank account in the world. Not only can you send and receive Fiat, you can save it through the COTI Pay app, as well as convert crypto to Fiat and vice versa.
- A physical and virtual debit card significantly increases the acceptability of the COTI network, as merchants who are unable to accept crypto as a payment method can now accept it as a de-facto payment option with a COTI debit card.