COTI introduces bank accounts and Visa debit cards as its token prepares for 45% rally
|- COTI has introduced a new product offering for users in the EU and EEA regions.
- In partnership with Simplex, the blockchain firm will introduce bank accounts and Visa debit cards for its users.
- 3,000 cards are planned to be sent to users on its initial launch, with 5,000 more coming in the following month.
Digital fintech platform, Currency of the Internet, also known as COTI has revealed that it will provide users access to Visa debit cards and bank accounts in partnership with Simplex. This announcement came shortly after the blockchain firm announced another collaboration with Cardano’s stablecoin hub, Ardana.
COTI rakes in new partnership
COTI has recently expanded its product line in partnership with Simplex to roll out Visa debit cards and bank accounts for its customers. The new services would allow users to access the monetary ecosystem efficiently and remove barriers between fiat currencies and cryptocurrencies.
Users on the blockchain platform would be able to open a new bank account with IBAN and request a COTI visa debit card. They would also be able to easily convert digital currencies to fiat to use for global transactions.
Topping up the account with cryptocurrencies would also be supported, along with cash withdrawal from ATMs in SWIFT and SEPA regions. Currently, the solution would only be available for users in the EU and EEA countries. However, the firm also aims to expand its offerings around the world.
In the future, COTI plans to introduce loyalty-based plans in its offering as it aims to integrate other new features as well. On its initial launch, the fintech firm will send out 3,000 cards, and 5,000 more to come in the following month.
COTI also recently revealed a collaboration with Cardano’s stablecoin hub Ardano as it aims to continue to scale up its operations.
COTI price prepares for 45% advance
COTI price has revealed a bullish outlook on the daily chart, as it formed a cup-and-handle pattern with a measured move of an 80% climb after slicing above the breakout point at $0.473.
COTI price has recorded higher highs since, and the possibility of a 45% climb from the current level could still be intact as long as the token is able to hold above crucial lines of support.
The Momentum Reversal Indicator (MRI) has flashed a top signal, suggesting that COTI may retrace before tagging higher targets.
COTI/USDT daily chart
The first line of defense for COTI price is at the September 30 low at $0.585, then at the September 28 low at $0.548. Further support may arise at the September 26 low at $0.499 before ultimately hitting the breaking point of the cup-and-handle pattern at $0.473.
A close above the immediate support level at $0.585 could instill confidence in the bulls, incentivizing COTI price to continue its rally toward $0.870, a 45% advance.
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