COTI partners with Simplex to Launch Visa debit cards and bank accounts, should you buy it?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Oct 1, 2021
  • COTI to launch Visa debit cards and bank accounts for clients.
  • This is enabled through a partnership with Simplex.
  • This has the potential to increase the value of the COTI token.

COTI COTI/USD is a blockchain platform that is intended to enable organizations to build their own payment solutions. 

The Simplex partnership as a catalyst for growth

Earlier this month, COTI announced that they would issue a new stablecoin for the Cardano ecosystem.

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On September 29, COTI teamed up with Simplex to introduce Visa debit cards and bank accounts to customers.

These new services will help users access the monetary ecosystem more easily. This will serve as a bridge between FIAT and digital assets.

Clients are able to open a new account with an IBAN and order a COTI Visa Debit Card.

They can convert crypto to FIAT for global spending purposes. 

Cash withdrawals from ATMs in SWIFT and SEPA regions will also be available and topping up the account through the usage of cryptocurrency assets.

This card will be implemented into COTI Pay and will integrate other features and loyalty-based plans into the offering.

That being said, COTI revealed that it would roll out these cards in two rounds. First, 3,000 cards will be sent out during the initial round, with 5,000 more a month afterward.

The team behind this project gave their assurance that they would distribute this solution throughout a variety of different regions across the world. For the time being, however, this only applies to EU and EEA residents.

Should you buy COTI (COTI)?

On October 1, COTI (COTI) had a value of $0.582.

To get a better perspective of what kind of value point this is for the token, we will be going over the token’s all-time high-value point as well as its performance in September.

Its lowest point was on September 8, when the token dropped to a value of $0.272.

Discussing the token’s all-time high, it was on September 29, when the token reached a value of $0.668.

Here, we can see that from September 8 to September 29, the token raised its value by $0.396 or by 145%.

That being said, from September 29 to October 1, the token dropped in value by $0.086 or by 12%.

This being the case, we can expect the token to increase to $0.785 by the end of October, making it a solid purchase.

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