Cardano-Backed Project Surpasses Visa Card Rollout by Nearly 100%

There is great news for the crypto community. The project backed by Cardano Coti’s native $COTI token has risen over 100% as it prepares to launch a Visa card in collaboration with popular fintech startup Simplex.

COTI intends to provide its users with bank accounts and Visa debit cards. The startup, which is developing the first Cardano blockchain-based stablecoin, is establishing new products to broaden its services. Moreover, COTI announced a collaboration with Simplex to advance this initiative, which would allow users to manage bank accounts and debit cards on the platform. Besides, COTI has long sought to combine banking and the cryptocurrency sector. Its products and services connect traditional financial services with cutting-edge crypto-industry technologies. Through its relationship with Simplex, COTI can give its users cryptocurrency-friendly bank accounts and debit cards that can be used and spent anywhere in the world.

Let us remember what COTI cryptocurrency is and what problems it solves in the crypto sector. COTI (Currency of the Internet) is a token designed to support a payment platform. Trustchain, a protocol established by the COTI platform to substitute third parties, allows the system to immediately convert and exchange digital assets. COTI is a decentralized payment network that enables anyone to make quick payments with minimal fees. The platform is a distributed DAG registry that, unlike blockchain, has no blocks. This allows COTI to scale indefinitely, and the network’s bandwidth can approach 10,000 transactions per second.

However, COTI cryptocurrency is thought to hold a lot of promise because it is an ecosystem that is expressly built to overcome the challenges connected with traditional financial services. The COTI platform saves structures and organizations time and money by addressing difficulties such as digitizing any currency or developing a payment system, among others. The coin was registered on Coinbase late last month, greatly increasing its liquidity. According to Coinmarketcap, COTI is traded on $0.50, and its total cap is $435,133,570 (at the moment of writing this article).

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Tatiana Leveria, Team bit4you